Bed Bath & Beyond Q2 profit up 26%, talks expansion

Union N.J. -- Bed Bath & Beyond reported Thursday that net income for the quarter ended Aug. 27 rose 26% to $229.4 million, amid improved sales and contained costs. Sales for the quarter rose 8.3% to $2.3 billion, and same-store sales increased 5.6%.

In its quarterly conference call, the company said it sees an opportunity to operate in excess of 1,300 Bed Bath & Beyond stores, as well as grow its Christmas Tree Shops and buybuy Baby concepts nationwide. Additionally, it will continue to open Harmon Face Values store. Including the 24 stores it has opened to date, it anticipates opening a total of about 40 stores across all its concepts in fiscal 2011.

The retailer raised its third-quarter and full-year outlook.