Bed Bath & Beyond Inc. Provides Fourth Quarter Update

            Bed Bath & Beyond Inc. Provides Fourth Quarter Update

PR Newswire

UNION, N.J., March 7, 2014

UNION, N.J., March 7, 2014 /PRNewswire/ --Bed Bath & Beyond Inc. today
provided preliminary information on its fiscal fourth quarter, including the
impact of adverse weather conditions during the period. The Company's fourth
quarter comprises the fiscal months of December, January and February and
ended on March 1, 2014. The impact of the disruptive weather included 464
times a store was closed for a full day and 1,923 times that a store was
closed for a partial day. For the fiscal quarter, the estimated resulting
impact due to the disruptive weather on comparable store sales was in the
range of 2.0% to 2.5%. The estimated impact on net earnings per diluted share
for the quarter was approximately $.06 to $.07.

The Company's comparable store sales for the fiscal fourth quarter increased
by approximately 1.7% as compared with its previous model of an increase of
approximately 2.0% to 4.0%. Although it is early in the process of its
financial close, the Company now estimates net earnings per diluted share of
approximately $1.57 to $1.61 for the quarter as compared with its previous
model of $1.60 to $1.67. 

Steven H. Temares, Chief Executive Officer and Member of the Board of
Directors of Bed Bath & Beyond Inc. stated, "Despite the weather related
challenges, we are pleased with our quarter. Absent the disruptive weather, we
believe we would have been comfortably within our sales and net earnings per
share ranges of our model. Our store associates continue to perform admirably
and we thank each of them for their extraordinary effort. We continue to make
excellent progress on our omnichannel initiatives and stay on course for the
execution of our long term strategic plan."

The Company expects to report its actual results for the fiscal 2013 fourth
quarter and full year after the close of trading on Wednesday, April 9, 2014,
and will provide its major modeling assumptions for the fiscal 2014 first
quarter and full year during its conference call scheduled for 5:00 PM (EDT)
on that date. The Company does not undertake any obligation to update its
forward-looking statements or make "pre-announcements" such as that contained
in this press release.

Bed Bath & Beyond Inc. and subsidiaries (the "Company") operates a chain of
retail stores under the names of Bed Bath & Beyond, World Market, Cost Plus
World Market, Cost Plus, a combination of the names Christmas Tree Shops or
andThat!, Harmon, Harmon Face Values and buybuy BABY. The Company is also a
partner in a joint venture which operates retail stores in Mexico under the
name Bed Bath & Beyond. Through its retail stores, the Company sells a wide
assortment of domestics merchandise and home furnishings. Domestics
merchandise includes categories such as bed linens and related items, bath
items and kitchen textiles. Home furnishings include categories such as
kitchen and tabletop items, fine tabletop, basic housewares, general home
furnishings, consumables and certain juvenile products. Additionally, the
Company includes Linen Holdings, a provider of a variety of textile products,
amenities and other goods to institutional customers in the hospitality,
cruise line, food service, healthcare and other industries. Shares of Bed
Bath & Beyond Inc. are traded on NASDAQ under the symbol "BBBY" and are
included in the Standard and Poor's 500 and Global 1200 Indices and the
NASDAQ-100 Index. The Company is counted among the Fortune 500 and the Forbes
2000.

This press release may contain forward-looking statements. Many of these
forward-looking statements can be identified by use of words such as may,
will, expect, anticipate, approximate, estimate, assume, continue, model,
project, plan, and similar words and phrases. The Company's actual results
and future financial condition may differ materially from those expressed in
any such forward-looking statements as a result of many factors. Such factors
include, without limitation: general economic conditions including the housing
market, a challenging overall macroeconomic environment and related changes in
the retailing environment, consumer preferences and spending habits;
demographics and other macroeconomic factors that may impact the level of
spending for the types of merchandise sold by the Company; civil disturbances
and terrorist acts; unusual weather patterns and natural disasters;
competition from existing and potential competitors; competition from other
channels of distribution; pricing pressures; the ability to attract and retain
qualified employees in all areas of the organization; the cost of labor,
merchandise and other costs and expenses; the ability to find suitable
locations at acceptable occupancy costs and other terms to support the
Company's expansion program; uncertainty in financial markets; disruptions to
the Company's information technology systems including but not limited to
security breaches of the Company's systems protecting consumer and employee
information; reputational risk arising from the acts of third parties; changes
to statutory, regulatory and legal requirements; new, or developments in
existing, litigation, claims or assessments; changes to, or new, tax laws or
interpretation of existing tax laws; changes to, or new, accounting standards
including, without limitation, changes to lease accounting standards; and the
integration of acquired businesses. The Company does not undertake any
obligation to update its forward-looking statements.



SOURCE Bed Bath & Beyond Inc.

Contact: Kenneth C. Frankel, (908) 855-4554, Susan E. Lattmann, (908) 855-4120
 
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