Bed, Bath and Beyond 2005 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2005 Bed, Bath and Beyond annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 33

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33

BED BATH& BEYOND ANNUAL REPORT 2005
11
FISCAL YEAR ENDED
February 25, February 26, February 28,
(in thousands, except per share data) 2006 2005 2004
Net sales $ 5,809,562 $ 5,147,678 $ 4,477,981
Cost of sales 3,323,814 2,961,377 2,601,317
Gross profit 2,485,748 2,186,301 1,876,664
Selling, general and administrative expenses 1,606,577 1,393,887 1,237,321
Operating profit 879,171 792,414 639,343
Interest income 35,920 18,773 10,202
Earnings before provision for income taxes 915,091 811,187 649,545
Provision for income taxes 342,244 306,223 250,075
Net earnings $ 572,847 $ 504,964 $ 399,470
Net earnings per share – Basic $ 1.95 $ 1.68 $ 1.35
Net earnings per share – Diluted $ 1.92 $1.65 $ 1.31
Weighted average shares outstanding – Basic 293,899 300,743 296,854
Weighted average shares outstanding – Diluted 298,973 306,642 304,690
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 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)
Net earnings 572,847)572,847)
Shares sold under employee stock option
plans, including tax benefit 2,300 24 57,622)57,646)
Issuance of restricted shares, net 1,031 10 (10) —))
Stock-based compensation expense 26,439)26,439)
Repurchase of common stock, including fees (16,404) (598,244) (598,244)
Balance at February 25, 2006 306,156 $ 3,062 $ 575,559 $ 2,632,224 (25,166) $ (948,395) $ 2,262,450)
See accompanying Notes to Consolidated Financial Statements.