Continues store expansion in 2009
| Tweet |
Bed Bath & Beyond Inc. (Union, N.J.) reports its net sales for the fiscal first quarter ended May 30, 2009, increased 2.8 percent compared to last year, while comparable store sales for the first quarter decreased 1.6 percent.
This is the first full quarter that the retailer has been in operation without rival Linens 'n Things, which closed its stores. Analysts say the healthy sales may relate to consumers trading expensive vacations and other indulgences for spending on home furnishings and electronics.
The home goods retailer operates 1044 stores, including 935 Bed Bath & Beyond stores, 53 Christmas Tree Shops stores, 16 buybuy BABY stores, and 40 stores under the names of Harmon or Harmon Face Values.
During the first quarter, the company opened six Bed Bath & Beyond stores, one Christmas Tree Shops store, and one buybuy BABY store and closed one Bed Bath & Beyond store. During the second quarter, the company has opened three additional Bed Bath & Beyond stores. In addition, through a joint venture, the company operates two stores in the Mexico City market under the name "Home & More."
Did you enjoy this article? Click here to subscribe to the magazine.
