Originally published at www.seclive.com
Bed Bath & Beyond Inc. (NASDAQ:BBBY) announced its financial results for the second quarter of fiscal year 2013, reporting earnings and revenue increases. Revenue increased 8.9% to $2.82B while its gross margin shrank slightly from 39.8% to 39.4%. Bed Bath & Beyond earnings for the quarter were $249.3M, or $1.16 per share, compared to last year this quarter with $224.3M and $0.98 earnings per share. The company has taken steps to improve profitability by updating its website offerings while also making specialty foods and beverages another aspect to its store. The company's stock price jumped after Bed Bath & Beyond raised the lower end of its annual guidance by $0.04. Same-store sales increased 3.7%, just edging out the 3.5% growth experienced a year ago.
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