 |
« My Thoughts on Citi |
Main
| JOSB Down 8% »
April 12, 2007
Bed Bath & Beyond Earned 79 Cents a Share
The company just wrapped up its 15th straight record year. For the fourth quarter, Bed Bath & Beyond (BBBY) earned 79 cents a share, although that doesn't include a charge of seven cents a share.
For the year, BBBY earned $2.15 a share, which is a nice improvement over the $1.92 a share it made last year. Annual sales rose from $5.8 billion to $6.6 billion.
Here are the quarterly results going back a few years:
| Quarter | Sales | Gross Profit | Operating Profit | Net Profit | EPS | | May-99 | $356,633 | $146,214 | $28,015 | $17,883 | $0.06 | | Aug-99 | $451,715 | $185,570 | $53,580 | $33,247 | $0.12 | | Nov-99 | $480,145 | $196,784 | $50,607 | $31,707 | $0.11 | | Feb-00 | $569,012 | $238,233 | $77,138 | $48,392 | $0.17 | | May-00 | $459,163 | $187,293 | $36,339 | $23,364 | $0.08 | | Aug-00 | $589,381 | $241,284 | $70,009 | $43,578 | $0.15 | | Nov-00 | $602,004 | $246,080 | $64,592 | $40,665 | $0.14 | | Feb-01 | $746,107 | $311,802 | $101,898 | $64,315 | $0.22 | | May-01 | $575,833 | $234,959 | $45,602 | $30,007 | $0.10 | | Aug-01 | $713,636 | $291,342 | $84,672 | $53,954 | $0.18 | | Nov-01 | $759,438 | $311,030 | $83,749 | $52,964 | $0.18 | | Feb-02 | $879,055 | $370,235 | $132,077 | $82,674 | $0.28 | | May-02 | $776,798 | $318,362 | $72,701 | $46,299 | $0.15 | | Aug-02 | $903,044 | $370,335 | $119,687 | $75,459 | $0.25 | | Nov-02 | $936,030 | $386,224 | $119,228 | $75,112 | $0.25 | | Feb-03 | $1,049,292 | $443,626 | $168,441 | $105,309 | $0.35 | | May-03 | $893,868 | $367,180 | $90,450 | $57,508 | $0.19 | | Aug-03 | $1,111,445 | $459,145 | $155,867 | $97,208 | $0.32 | | Nov-03 | $1,174,740 | $486,987 | $161,459 | $100,506 | $0.33 | | Feb-04 | $1,297,928 | $563,352 | $231,567 | $144,248 | $0.47 | | May-04 | $1,100,917 | $456,774 | $128,707 | $82,049 | $0.27 | | Aug-04 | $1,273,960 | $530,829 | $189,108 | $120,008 | $0.39 | | Nov-04 | $1,305,155 | $548,152 | $190,978 | $121,927 | $0.40 | | Feb-05 | $1,467,646 | $650,546 | $283,621 | $180,980 | $0.59 | | May-05 | $1,244,421 | $520,781 | $150,884 | $98,903 | $0.33 | | Aug-05 | $1,431,182 | $601,784 | $217,877 | $141,402 | $0.47 | | Nov-05 | $1,448,680 | $615,363 | $205,493 | $134,620 | $0.45 | | Feb-06 | $1,685,279 | $747,820 | $304,917 | $197,922 | $0.67 | | | | | | | | May-06 | $1,395,963 | $590,098 | $148,750 | $100,431 | $0.35 | | | | | | | | Aug-06 | $1,607,239 | $678,249 | $219,622 | $145,535 | $0.51 | | | | | | | | Nov-06 | $1,619,240 | $704,073 | $211,134 | $142,436 | $0.50 | | Feb-07 | $1,994,987 | $862,982 | $309,895 | $205,842 | $0.72 | | | | | | |
Two things to note. This last quarter was based on 14 weeks while the other quarters were just 13 weeks. Also, the 2006 fiscal year had 53 weeks compared with 52 for last year.
Some analysts have noted the company's lower gross margins. This is what BBBY had to say on their conference call:
The gross profit margin for the full fiscal year improved slightly from fiscal 2005. The approximate 110 basis point decline in the fiscal fourth quarter was primarily due to higher inventory acquisition costs. Inventory acquisition costs were higher, primarily due to a shift in purchase volume incentives earned during our fiscal third quarter, which as we discussed in December, benefited that quarter.
This is the first decline in gross margins in five years.
Posted by edelfenbein at April 12, 2007 8:28 AM
|
 |
