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June 27, 2007
Bed Bath & Beyond Earns 38 Cents a Share
Bed Bath & Beyond (BBBY) just reported earnings of 38 cents a share (technically, 37.6 cents). Sales were up 11.3% to $1.553 billion.
Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc. stated, "While we continue to see that the overall retailing environment, especially sales of merchandise related to the home, is challenging, we have taken a long-term approach to our business and work to continue to distance ourselves from our competitors by remaining focused on being our customers' first choice for the products we offer, domestically, interactively, and over the long-term, internationally. Consistent with this, we were very pleased to have recently executed a lease for our first international store, located in Richmond Hill, Ontario, north of Toronto."
This is a decent report. Without the warning, the company barely missed previous expectations. Think of it this way, BBBY came in 1.4 cents below the Street's expectations, yet the market chopped off 291 cents in share. So that miss in effect has a price/earnings ratio of 207.
Fine, I'll take the other side of that trade.
| 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 | | May-07 | $1,553,293 | $646,109 | $154,391 | $104,647 | $0.38 | | | | | | |
Posted by edelfenbein at June 27, 2007 4:18 PM
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