Bed Bath & Beyond to Grow Banners

Union, N.J. - July 11 - Bed Bath & Beyond has secured 58 leases for new store sites in 2007 and into 2008. While most will be Bed Bath & Beyond units, the company said at its annual meeting that it also intends to grow its other banners: Christmas Tree Shops, Harmon and the newly acquired buybuy Baby.

The company ended fiscal 2006 with 815 Bed Bath & Beyond units, 34 Christmas Tree Shops and 39 Harmon stores. Harmon also has been adapted as a boutique health-and-beauty aids section in Bed Bath & Beyond stores.

Bed Bath & Beyond sales were $6.62 billion in the fiscal year ended March 3, up from $5.81 billion in fiscal 2005. Net earnings were $594.2 million, up from $572.8 million in the year before.

Link: The Chain Store Age