The all cash acquisition will have no effect on Bed Bath & Beyond's fiscal 2001 results, since the transaction occurred in fiscal 2002. The Company is scheduled to release its fiscal 2001 year-end results Wednesday, April 3, 2002.
The Company believes the benefit of the acquisition of Harmon Stores, Inc. will not have a material effect on the overall results or financial condition of Bed Bath & Beyond Inc. for fiscal 2002.
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 & Poor's 500 Index, the NASDAQ-100 Index and the Forbes 500.
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, estimate, assume, continue, 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 that may be outside the Company's control. Such factors include, without limitation: general economic conditions, changes in the retailing environment and consumer spending habits; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; unusual weather patterns; competition from the existing and potential competitors; competition from other channels of distribution; pricing pressures; the ability to find suitable locations at reasonable occupancy costs to support the Company's expansion program; and the cost of labor, merchandise and other costs and expenses. The Company does not undertake any obligation to update its forward-looking statements.
SOURCE Bed Bath & Beyond Inc.
CONTACT:
Investors - Ronald Curwin, Chief Financial Officer and Treasurer, ext. 4550,
Kenneth C. Frankel, Director of Financial Planning, ext. 4554,
Paula J. Marbach, Investor Relations, ext. 4552,
all of Bed Bath & Beyond Inc.,
+1-908-688-0888, or fax - +1-908-810-8813
URL: http://www.bedbath.com