Long-term plans to open 400 additional Bed Bath & Beyondunits across the United States are actually a slowing of thatchain's growth, as the company accelerates its expansion in Canada,where it currently has two stores. Twelve more locations are undernegotiation and more sites are being scouted, for a corporate goal"to become the leading home furnishings chain in Canada," saidWarren Eisenberg, co-chairman.

|

For 2008, the company will open 50 new Bed Bath & Beyondstores, as well as 12 Christmas Tree Shops, "several" buybuy BABYstores, and freestanding and in-store Harmon and Harmon Faceunits.

|

"While the number of store openings in these newer concepts areexpected to grow significantly, we are moderating the number of BedBath & Beyond openings," Eisenberg said. "In doing so, weremain flexible to take advantage of additional real estateopportunities, if we so choose, due to the ongoing consolidation inour industry."

|

Net sales for the fiscal second quarter of 2008 wereapproximately $1.854 billion, up 4.9% from the same period lastyear. Comparable store sales declined approximately 0.1%. Netearnings were $119.3 million, down from earnings of $147.0 millionlast year.

|

As of August 30, Bed Bath & Beyond had 994 stores, including903 Bed Bath & Beyond stores (in 49 states, the District ofColumbia, Puerto Rico and Canada), 41 Christmas Tree Shops stores,10 buybuy BABY stores, and 40 stores under the names of Harmon orHarmon Face Values. Through a joint venture, the company operatestwo Home & More stores in Mexico.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.