Bed, Bath & Beyond (BBBY)
SSG and PERT A (04-01-2005) | Google Stocks | Company Website
Stock Selection Guide Updated. The SSG for Bed, Bath & Beyond has been revised. BBBY remains a high quality company and is within the “buy” range up to a price of $44.90.
There is an excellent article by Mark Robertson at www.fundas.com discussing Bed, Bath and Beyond. His analysis is right on target.
On April 6, BBBY reported its year end results. Sales were up 15% and net earnings increased 26.4%. This shows very positive growth and is in line with past years. Comparable store sales increased by 5.1%.
From IClub’s November edition of the Investor Advisory Service: “Bed Bath & Beyond reported strong results for its second fiscal quarter ended August 28, 2004. The company grew revenue by 14.6%, net earnings by 23.5% and EPS by 21.9% to $0.39. Same store sales during the period increased by 4.8% and the firm opened 14 new Bed Bath & Beyond stores. The firm plans to open 54 Bed Bath & Beyond stores, 2 Christmas Tree Shops, and approximately 4 Harmon Stores during the balance of the fiscal year. Management is bullish on growth prospects and believes that the market for Bed Bath and Beyond stores is well over 1,000 compared to the current store count of 606. Christmas Tree Shops, which was acquired in June 2003, continues to be integrated into the corporation and management believes the chain will be an integral part of future growth. The company is comfortable with analyst consensus earnings estimate of $1.59 per share for the 2004 fiscal year. BBBY (38.16) is a buy up to 43.”
On June 23, 2004, Bed Bath & Beyond Inc. reported net earnings of $82.0 million ($.27 per share) in the fiscal first quarter ended May 29, 2004, an increase of approximately 42.7% from the $57.5 million ($.19 per share) earned in the fiscal first quarter of 2003. Net sales for the fiscal first quarter of 2004 were approximately $1.1 billion, an increase of approximately 23.2% from net sales of $893.9 million in the fiscal first quarter of 2003. Comparable store sales in the fiscal first quarter of 2004 grew by approximately 5.1%, compared with an increase of approximately 4.4% in last year’s fiscal first quarter. Q1 2004 Report.
Company Description: Bed Bath & Beyond Inc. sells a broad range of competitively priced name brand domestics (55% of FY ’02 sales) and home furnishings (45%), incl. bed linens, towels, cookware, and housewares. Operated 575 stores in 44 states (a/o 2/28/04). Most new units are averaging just under 30,000 sq. feet in size; several are 80,000 and above. Superstores generated a 7.9% same-store sales gain in FY ’02 versus a 7.1% rise in FY ’01. Has abt. 23,000 employees, incl. part-timers. Off. & dir. own 6.0% of shares; Putnam Investment, 7.4%; Aim Mgt., 5.0% (5/03 proxy). Co-Chair: Warren Eisenberg & Leonard Feinstein. Pres. & CEO: Steven Temares. Inc.: NY. Address: 650 Liberty Avenue, Union, NJ 07083. Telephone: 908-688-0888. Internet: www.bedbathandbeyond.com