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Bed Bath & Beyond Q2 net earnings $48.6 million

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Staff Writer | September 27, 2018
Bed Bath & Beyond
Bed Bath & Beyond   Comparable sales in the fiscal 2018 second quarter decreased

Bed Bath & Beyond reported financial results for the second quarter of fiscal 2018 ended September 1, 2018.

For the fiscal 2018 second quarter, Bed Bath & Beyond reported net earnings of $.36 per diluted share ($48.6 million), compared with $.67 per diluted share ($94.2 million) for the fiscal 2017 second quarter. Net sales for the fiscal 2018 second quarter were approximately $2.9 billion, flat to the prior year quarter.

Comparable sales in the fiscal 2018 second quarter decreased by approximately 0.6%, and included strong sales growth from the company's customer-facing digital channels, and sales from stores that declined in the mid-single-digit percentage range.

Bed Bath & Beyond board of directors declared a quarterly dividend of $.16 per share payable on January 15, 2019 to shareholders of record at the close of business on December 14, 2018.

During the fiscal 2018 second quarter, Bed Bath & Beyond repurchased approximately $41 million of its common stock, representing approximately 2.1 million shares, under its existing $2.5 billion share repurchase program. As of September 1, 2018, the program had a remaining balance of approximately $1.4 billion.

Bed Bath & Beyond ended the fiscal 2018 second quarter with approximately $1.1 billion in cash and investment balances, an increase of approximately $532 million, compared with approximately $563 million at the end of the fiscal 2017 second quarter.


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