Earnings Call Excerpt
Bed Bath & Beyond Inc. (BBBY)
F2Q08 Earnings Call
September 24, 2008 5:00 pm ET
Executives
Ronald Curwin - Senior Vice President, Investor Relations
Warren Eisenberg - Co-Chairman of the Board
Steven H. Temares - Chief Executive Officer, Director
Presentation
Operator
Welcome to Bed Bath & Beyond second quarter fiscal 2008 conference call. (Operator Instructions) Now at this time it is my pleasure 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 second quarter of fiscal 2008 conference call. Within the past hour, we issued a press release covering Bed Bath & Beyond's results for the three- and six-month periods ended August 30, 2008. During this call, we will comment on some of the quarter’s highlights and update guidance for fiscal 2008, a 52-week year ending on February 28, 2009.
Before proceeding, I will read the following statement, and I quote: Bed Bath & Beyond's fiscal second quarter press release and comments made during this call may contain forward-looking statements within the meaning of Section 21-E 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 statements as a result of many factors that may be outside the company’s control. Please refer to Bed Bath & Beyond's SEC filings, including its Form 10-K for the year ended March 1, 2008. 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. Some additional financial commentary will conclude today’s call.
I am now very pleased to introduce Warren Eisenberg. Warren.
Warren Eisenberg
Good afternoon. Our press release, issued within the past hour, showed that our company earned $0.46 per diluted share in the fiscal second quarter ended August 30, 2008. In this challenging macroeconomic environment, we continue to focus on our customers and in doing so, seek to further distance ourselves from our competitors. As always, we base our actions on what is prudent under the circumstances and what is in the best interest of our customers and our shareholders for the long-term.
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