Bed, Bath and Beyond 2004 Annual Report Download - page 13

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BED BATH & BEYOND ANNUAL REPORT 2004
11
FISCAL YEAR ENDED
February 26, February 28, March 1,
(in thousands, except per share data) 2005 2004 2003
Net sales $ 5,147,678 $ 4,477,981 $ 3,665,164
Cost of sales 2,961,377 2,601,317 2,146,617
Gross profit 2,186,301 1,876,664 1,518,547
Selling, general and administrative expenses 1,393,887 1,237,321 1,038,490
Operating profit 792,414 639,343 480,057
Interest income 18,773 10,202 11,291
Earnings before provision for income taxes 811,187 649,545 491,348
Provision for income taxes 306,223 250,075 189,169
Net earnings $ 504,964 $ 399,470 $ 302,179
Net earnings per share – Basic $ 1.68 $ 1.35 $ 1.03
Net earnings per share – Diluted $ 1.65 $ 1.31 $ 1.00
Weighted average shares outstanding – Basic 300,743 296,854 292,927
Weighted average shares outstanding – Diluted 306,642 304,690 301,147
See accompanying Notes to Consolidated Financial Statements.
CONSOLIDATED STATEMENTS OF EARNINGS
Bed Bath & Beyond Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Bed Bath & Beyond Inc. and Subsidiaries
ADDITIONAL TREASURY
COMMON STOCK PAID-IN RETAINED STOCK
(in thousands) SHARES AMOUNT CAPITAL EARNINGS SHARES AMOUNT TOTAL
Balance at March 2, 2002 291,441 $2,914 $238,672 $ 852,764 —)$ —)) $1,094,350)
Net earnings 302,179 302,179)
Shares sold under employee stock option
plans, including tax benefit 2,989 30 55,362 55,392)
Balance at March 1, 2003 294,430 2,944 294,034 1,154,943 —)—)) 1,451,921)
Net earnings 399,470 399,470)
Shares sold under employee stock option
plans, including tax benefit 5,848 59 139,370 139,429)
Balance at February 28, 2004 300,278 3,003 433,404 1,554,413 —)—)) 1,990,820)
Net earnings 504,964 504,964)
Shares sold under employee stock option
plans, including tax benefit 2,547 25 58,104 58,129)
Repurchase of common stock, including fees (8,762) (350,151) (350,151)
Balance at February 26, 2005 302,825 $3,028 $491,508 $2,059,377 (8,762) $(350,151) $2,203,762)
See accompanying Notes to Consolidated Financial Statements.