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BED BATH & BEYOND 2011 ANNUAL REPORT
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
the increase in net earnings per diluted share primarily reflects the favorable movements in gross profit and
฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
respectively.
The Company plans to continue to expand its operations and invest in its infrastructure to reach its long term objectives. In fiscal
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀
RESULTS OF OPERATIONS
The following table sets forth for the periods indicated (i) selected statement of earnings data of the Company expressed
as a percentage of net sales and (ii) the percentage change in dollar amounts from the prior year in selected statement of
earnings data:
Fiscal Year Ended
Percentage Percentage Change
of Net Sales from Prior Year
February 25, ฀ ฀฀ ฀฀ February 25,฀฀ ฀฀
2012฀ ฀ ฀฀ 2012 ฀ 
Net sales 100.0% ฀ ฀฀ ฀฀ 8.5% 
Cost of sales 58.6 ฀฀ ฀ 8.4฀฀ 
฀฀41.4 ฀ ฀฀ ฀ 8.5 ฀ 
Selling, general and administrative expenses 24.9 ฀฀ ฀฀ 1.2฀฀ 
Operating profit 16.5 ฀฀ ฀฀ 21.7฀฀ 
Earnings before provision for income taxes 16.5 ฀฀ ฀฀ 21.4฀฀ 
Net earnings 10.4 ฀ ฀฀ 25.0฀ 