Bed Bath & Beyond Maintains Store Growth

UNION, NJ-Bed Bath & Beyond continues to grow its four retail concepts, and management sees the US eventually supporting 1,300 of its namesake stores, up from its current total of 859 units. The company opened 28 Bed Bath & Beyonds during its third quarter, a total of 70 are planned for the entire fiscal year and 60 during the following 12 months.

Bed Bath & Beyond is also growing its other chains. There are 12 new Christmas Tree Shops planned next year, on top of the 39 it currently operates, and “several” additions to the 40-unit Harmon discount-cosmetic chain, as well as the eight-location buy buy Baby concept.

Bed Bath & Beyond’s same-store sales rose 0.8% during the third quarter, which ended Dec. 1, while net sales rose 10.8%, to just under $1.8 billion. Net earnings fell to $138.2 million from $142.4 million during the same year-ago period.