Bed Bath & Beyond Meets Earnings Estimates - TheStreet

Bed Bath & Beyond

(BBBY) - Get Report

reported third-quarter earnings that met analysts' expectations, thanks in part to 4.2% growth in same-store sales.

The home furnishings retailer said third-quarter earnings rose to $40.7 million, or 14 cents a share, from $31.7 million, or 11 cents a share, in the same period last year, meeting the

First Call/Thomson Financial

consensus estimate.

Sales for the quarter rose to $609.5 million from $486.5 million in the third quarter of 1999. During the third quarter, the company opened 37 new superstores and expanded two existing stores, bringing its total number of stores to 309 as of Nov. 25. Bed Bath & Beyond also plans to open about 80 superstores in the fiscal year beginning on March 4.