Bed Bath & Beyond Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 2, 2013. For the quarter, the company's net sales were $3,401,477,000 compared to $2,732,314,000 a year ago. Comparable store sales in the fiscal fourth quarter of 2012 increased by approximately 2.5%, compared with an increase of approximately 6.8% in last year’s fiscal fourth quarter. Operating profit was $598,034,000 compared to $550,765,000 a year ago. Earnings before provision for income taxes was $597,784,000 compared to $553,806,000 a year ago. Net earnings was $373,872,000 or $1.68 per diluted share compared to $351,043,000 or $1.48 per diluted share a year ago. For the year, the company's net sales were $10,914,585,000 compared to $9,499,890,000 a year ago. Operating profit was $1,638,218,000 compared to $1,568,369,000 a year ago. Earnings before provision for income taxes was $1,634,059,000 compared to $1,569,488,000 a year ago. Net earnings was $1,037,788,000 or $4.56 per diluted share compared to $989,537,000 or $4.06 per diluted share a year ago. Net cash provided by operating activities was $1,192,990,000 compared to $1,225,284,000 a year ago. Capital expenditures were $314,682,000 compared to $243,374,000 a year ago. Comparable store sales for fiscal 2012 increased by approximately 2.7% compared with an increase of approximately 5.9% last year. Comparable store sales for the fiscal fourth quarter and fiscal year are based on 14 weeks and 53 weeks, respectively, and exclude Cost Plus Inc. ('World Market') and Linen Holdings. Based on these and other planning assumptions, including a tax rate that is approximately 400 to 500 basis points higher than in the fiscal first quarter of fiscal 2012, the company is modeling net earnings per diluted share to be approximately $0.88 to $0.94 for the fiscal first quarter of 2013. For the 52 weeks of fiscal 2013, including the incrementally higher tax rate assumption, the company is modeling net earnings per diluted share to increase by a mid-single digit to a low-double-digit percentage range over the 53 weeks of fiscal 2012. For the full year, the company expects the fiscal 2013 tax rate to be incrementally higher than the tax rate for 2012. Depreciation for fiscal 2013 is expected to be approximately $220 million. Annual interest line will include approximately $8.7 million in World Market interest expense, substantially resulting from the inclusion of sale-leaseback obligations related to its distribution centers. The company expects to generate positive operating cash flow and to continue to fund operations entirely from internally generated sources.

Bed Bath & Beyond Inc. announced that they will report Q4, 2012 results on Apr 10, 2013

Bed Bath & Beyond Inc., Q4 2012 Earnings Call, Apr 10, 2013