Bed, Bath and Beyond 2003 Annual Report Download - page 24

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BED BATH& BEYOND ANNUAL REPORT 2003
22
To the Board of Directors and Shareholders of Bed Bath & Beyond Inc.:
We have audited the accompanying consolidated balance sheets of Bed Bath & Beyond Inc. and subsidiaries as of
February 28, 2004 and March 1, 2003, and the related consolidated statements of earnings, shareholders’ equity, and
cash flows for each of the fiscal years in the three-year period ended February 28, 2004. These consolidated financial
statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these
consolidated financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the
financial position of Bed Bath & Beyond Inc. and subsidiaries as of February 28, 2004 and March 1, 2003, and the
results of their operations and their cash flows for each of the fiscal years in the three-year period ended February
28, 2004 in conformity with accounting principles generally accepted in the United States of America.
New York, New York
March 26, 2004
INDEPENDENT AUDITORS’ REPORT