``When we opened our first two stores back in 1971,'' Bed Bath & Beyond's Co-Founders and Co-CEO's Warren Eisenberg and Leonard Feinstein stated, ``we could not have imagined that, some day, we would have a chain of 200 stores operating in 36 states from coast-to-coast. When we announced, on October 4, 1996, our 100th store (located in Irvine, California), we stated that we were 'looking forward, within the next three years, to the opening of our 200th store', which has now occurred. As then, we wish to thank our millions of loyal customers, as well as our thousands of associates, who've made our success possible.''
So far in fiscal 1999, including the new Palm Beach Gardens location, Bed Bath & Beyond Inc. has opened fourteen new superstores, and plans to open approximately 36 additional superstores within the current fiscal year, bringing to approximately 236 stores in 38 states the number of stores expected to be in operations at the end of our fiscal year on February 26, 2000.
Bed Bath & Beyond Inc. is a nationwide chain of superstores selling better quality domestics merchandise and home furnishings. Its stock is traded on NASDAQ under the symbol ``BBBY'' and is included in the Standard and Poor's MidCap 400 Index and the NASDAQ-100 Index. The Company has been assigned an investment grade credit rating by Standard & Poor's.
This press release may contain forward looking statements. Important factors which may affect these statements are contained in the Company's Annual Report to Shareholders for the year ended February 27, 1999 and may be contained in any subsequent reports filed by the Company with the Securities and Exchange Commission.
SOURCE: Bed Bath & Beyond Inc.