Bed Bath & Beyond Says Profit Jumped

Bed Bath & Beyond Inc., the No. 1 U.S. home products retail chain, said its second-quarter profit rose 24% to $54 million, or 18 cents a share, matching Wall Street estimates.

Sales rose 21% to $713.6 million, while sales at stores open at least one year--same-store sales--grew 4.8%, the Union, N.J.-based company said.

The company also said it plans to open about 32 stores during the rest of the year, including one in Puerto Rico.

Shares of Bed Bath & Beyond fell 22 cents to $22.96 on Nasdaq.