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Bed Bath and Beyond Q1 net loss $2.91 per diluted share

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Christian Fernsby |
Bed Bath and Beyond
Bed Bath and Beyond   Net earnings were $.12 per diluted share or $15.5 million

Bed Bath and Beyond reported financial results for the first quarter of fiscal 2019 ended June 1, 2019.

For the fiscal 2019 first quarter, Bed Bath and Beyond reported a net loss of $2.91 per diluted share ($371.1 million), which included an unfavorable impact of approximately $3.03 per diluted share related to a non-cash impairment of goodwill and other intangible assets, as well as severance and shareholder activity costs incurred during the quarter, compared with net earnings of $.32 per diluted share ($43.6 million) for the fiscal 2018 first quarter, which included an unfavorable impact of approximately $.06 from severance costs.

Excluding the goodwill and other impairments, severance and shareholder activity costs, Bed Bath and Beyond reported adjusted net earnings of $.12 per diluted share or $15.5 million for the fiscal 2019 first quarter.

On July 8, 2019, Bed Bath and Beyond's Board of Directors declared a quarterly dividend of $0.17 per share payable on October 15, 2019 to shareholders of record at the close of business on September 13, 2019.

During the fiscal 2019 first quarter, Bed Bath and Beyond repurchased approximately $81.5 million of its common stock, representing approximately 5.3 million shares.


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