Bed Bath & Beyond
reported a 3% rise in second-quarter earnings Wednesday and also said it is reviewing its stock options procedures.
The home-goods retailer's profit for the quarter ended Aug. 26 rose to $145.5 million, or 51 cents a share, from $141.4 million, or 47 cents a share, a year earlier. The earnings matched Thomson First Call's average analyst estimate.
Sales rose 12% to $1.61 billion, compared with analysts' expectation of $1.60 billion. Same-store sales increased 4.8%.
Bed Bath & Beyond said an independent board committee is reviewing the company's stock options grants and procedures. The retailer said the review was initiated voluntarily and isn't yet complete. The company expects to give more details in its 10-Q for the second quarter, which it plans to file around Oct. 5.