Bed Bath & Beyond’s Earnings Call

From Seeking Alpha, here are some highlights from Bed Bath & Beyond’s ($BBBY) earnings call:

Based on these and other planning assumptions, we are modeling net earnings per diluted share to be approximately $0.97 to $1.03 for the fiscal second quarter of 2012. For all of fiscal 2012, including the benefit of the 53rd week and the incremental operating cost from the previously discussed major initiatives, we continue to model net earnings per diluted share to increase by a high single-digit to a low double-digit percentage range over fiscal 2011.

(…)

Our balance sheet and cash flows remains strong. We ended the fiscal first quarter with cash and cash equivalents and investment securities of approximately $1.8 billion. Assuming the completion of the Cost Plus transaction in our fiscal second quarter, we would expect the cash used in our fiscal second quarter for both the Linen Holdings and Cost Plus acquisitions to be approximately $650 million.

As of May 26, 2012, inventories at cost were approximately $2.2 billion or $60.63 per square foot, an increase of approximately 2.4% on a per square foot basis over the end of last year’s first quarter. Inventories continue to be tailored by store to meet the anticipated demands of our customers and are in good condition.

Consolidated shareholders equity at May 26, 2012, was approximately $3.9 billion, which is net of share repurchases, including the approximately $306 million, representing approximately 4.6 million shares repurchased during the fiscal first quarter of 2012. As of May 26, 2012, the remaining balance of the share — of the current share repurchase program authorized in December 2010 was approximately $613 million.

The company repurchased 2% of its outstanding stock last quarter.

Posted by on June 20th, 2012 at 11:45 pm


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