Bed Bath & Beyond Inc. BBBY reported its second quarter earnings on Tuesday. Shares of the company are up 7.4 percent. Below are some key highlights from its conference call: • Initial offering of $1.5 billion of senior unsecured notes. • Implemented a $250 million revolving credit agreement. • Received approval from our Board of Directors for an additional $2 billion share repurchase program, and entered into a $1.1 billion accelerated share repurchase agreement. • Pleased that Standard & Poor's has raised our credit rating to A- from BBB+, which speaks to the strength of our company and our future prospects. • We reported net earnings per diluted share of $1.17 compared to $1.16 per diluted share in last year's fiscal second quarter. • Net sales for the fiscal second quarter were approximately $2.9 billion, approximately 4.3% higher than in the prior year net sales of approximately $2.8 billion. • Second quarter comparable sales increased by approximately 3.4% compared with an increase of 3.7% last year.