Earnings Call Excerpt
Bed Bath & Beyond, Inc. (BBBY)
F4Q06 Earnings Call
April 11, 2007 5:00 pm ET
Executives
Warren Eisenberg - Co-Chairman
Steven Temares - CEO
Ronald Curwin - SVP, IR
Presentation
Operator
Welcome to Bed Bath & Beyond’s fourth quarter and year end 2006 Results Conference Call. (Operator Instructions) Now I would like to turn the conference over to Ron Curwin, Senior Vice President of Investor Relations of Bed Bath & Beyond. Mr. Curwin, please go ahead.
Ronald Curwin
Thank you and good afternoon. Welcome to Bed Bath & Beyond’s fiscal fourth quarter and fiscal year 2006 conference call. Within the past hour, we issued a press release announcing Bed Bath & Beyond’s results for the three- and 12-month fiscal period ended March 3, 2007. As you know, our fiscal fourth quarter was a 14-week period and fiscal 2006 consisted of 53 weeks.
During this call, we will discuss our fiscal fourth quarter highlights and update guidance for fiscal 2007, which will be a 52-week year ending on March 1, 2008. The recently announced acquisition of buybuy BABY did not affect the results for the fiscal fourth quarter and fiscal 2006 since the acquisition was consummated in fiscal 2007.
Before proceeding, I will read the following statement:
Bed Bath & Beyond’s fiscal fourth quarter of 2006 press release and comments made during this call may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended. Many of these forward-looking statements can be identified by the use of words such as may, will, expect, anticipate, estimate, assume, continue, project, plan and similar words and phrases. The company’s actual results and future financial condition may differ materially from those expressed in any such forward-looking statement as a result of many factors that may be outside the company’s control.
Please refer to Bed Bath & Beyond’s fiscal fourth-quarter of 2006 press release and its SEC filings, including its Form 10-K for the year ended February 25, 2006 and the Forms 10-Q and 8-K filed by the company since that date. The company does not undertake any obligation to update its forward-looking statements.
Warren Eisenberg, Co-Chairman of Bed Bath & Beyond, leads off today’s call. Steven Temares, Chief Executive Officer and a member of the board of directors will follow Warren. Our 2007 outlook and some additional financial commentary will conclude today’s call.
I’m now very pleased to introduce Warren Eisenberg.
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