FORM 10-Q

                  SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549
(Mark one)
     [ X ]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF 
                    THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended November 1, 1997

                                     OR

     [   ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
                     THE SECURITIES EXCHANGE ACT OF 1934

          For the transition period from ___________  to  ___________

                     Commission File Number  1-7288  


                            THE BOMBAY COMPANY, INC. 
            (Exact name of registrant as specified in its charter)

                  Delaware                          75-1475223
           (State or other jurisdiction of      (I.R.S. Employer
            incorporation or organization)       Identification No.


         550 Bailey Avenue, Fort Worth, Texas             76107
         (Address of principal executive offices)      (Zip Code)


                               (817) 347-8200
             (Registrant's telephone number, including area code)



       (Former name, former address and former fiscal year, if changed
                                since last report)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes X  No _____ 

Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of the latest practicable date.

Class                    Number of shares outstanding at November 1, 1997
Common stock, $1 par value                   38,104,118




               THE BOMBAY COMPANY, INC. AND SUBSIDIARIES

                               Form 10-Q

                    Quarter Ended November 1, 1997



                            TABLE OF CONTENTS


                        PART I -- FINANCIAL INFORMATION

Item                                   

1.      Financial Statements         

2.      Management's Discussion and Analysis of Financial
          Condition and Results of Operations          



                        PART II -- OTHER INFORMATION


6.      Exhibits and Reports on Form 8-K             

        Signatures           



<TABLE>
              THE BOMBAY COMPANY, INC. AND SUBSIDIARIES
                Consolidated Statements of Operations
              (In thousands, except per share amounts)
                             (Unaudited)
<CAPTION>

                                Three Months Ended        Nine Months Ended  
                                ----------------------   ---------------------
                                November 1,  November 2, November 1,  November 2
                                  1997         1996         1997         1996
                                ----------   ----------  ----------   --------
<S>                             <C>          <C>          <C>         <C> 
Net sales                       $71,329      $72,816      $207,303    $212,101
                                -------      -------      --------    --------
Costs and expenses:
  Cost of sales, buying and 
   store occupancy costs         50,363       53,481       151,857     154,955 
  Selling, general and 
  administrative expenses        24,538       29,492        69,717      76,547 
  Interest income, net             (452)         (30)       (1,833)       (152)
                                 ------      -------       -------     -------  
    Total costs and expenses     74,449       82,943       219,741     231,350 
                                 ------      -------       -------     -------
Loss before income taxes and 
accounting change                (3,120)     (10,127)      (12,438)    (19,249)
Benefit for income taxes         (1,219)      (3,980)       (4,917)     (7,520)
                                 ------       -------       ------     -------
Loss before accounting change    (1,901)      (6,147)       (7,521)    (11,729)
Cumulative effect of 
accounting change, net of tax      --           --            --          835
                                 -------      -------       -------    --------
    Net loss                    ($1,901)     ($6,147)       ($7,521)   ($10,894)
                                 =======      =======       =======    ========
Per average common share and 
common equivalent share:
  Loss before accounting change  ($0.05)      ($0.16)       ($0.20)     ($0.31)
  Cumulative effect of 
  accounting change, net of tax     --           --           --         0.02
                                 -------      -------        ------     -------
  Net loss                       ($0.05)      ($0.16)       ($0.20)     ($0.29)
                                 =======      =======        ======     =======
Average common shares and common
  equivalent shares outstanding   38,078       37,765        38,050      37,845
                                 =======      =======        ======      ======

Cash dividends per common share     --           --            --          --  
                                 =======      =======        ======      ======

<FN>
The accompanying notes are an integral part of these consolidated 
financial statements.

</TABLE>


<TABLE>

                 THE BOMBAY COMPANY, INC. AND SUBSIDIARIES
                       Consolidated Balance Sheets
                 (Dollars in thousands, except share data)
<CAPTION>

                                        November 1, February 1,  November 2,
                                          1997        1997          1996
                                        ----------- -----------  -----------
ASSETS                                  (Unaudited)             (Unaudited)
<S>                                     <C>         <C>          <C> 
Current assets:
  Cash and cash equivalents              $27,618     $63,130       $2,018 
  Inventories                             94,962      69,816      102,645 
  Income taxes receivable                  6,792         102        6,758 
  Deferred taxes                           3,038       3,429        2,123 
  Other current assets                     9,461       8,223        9,201 
                                         -------     -------      -------
    Total current assets                 141,871     144,700      122,745 

Property and equipment, net               37,766      41,211       42,862 
Goodwill, less amortization                  547         569          575 
Other assets                               8,114       8,883        9,796 
                                         -------     -------      -------
    Total assets                        $188,298    $195,363     $175,978 
                                         =======     =======      =======

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable and accrued expenses  $31,830     $30,052      $20,903 
  Accrued payroll and bonuses              3,225       5,008        3,110 
                                          ------      ------       ------
    Total current liabilities             35,055      35,060       24,013 
                                          ------      ------       ------
Accrued rent and other liabilities         6,652       6,370        7,228
                                          ------      ------       ------
Stockholders' equity:
  Preferred stock, $1 par value,
    1,000,000 shares authorized             --           --           --
  Common stock, $1 par value, 50,000,000
    shares authorized, 38,104,118,
    37,997,676 and 37,908,147 shares  
    issued, respectively                  38,104      37,998       37,908 
  Additional paid-in capital              75,894      75,465       75,196 
  Retained earnings                       33,452      40,973       32,084       
  Cumulative effect of foreign currency
  translation                               (859)       (503)        (451)
                                         -------     -------      -------
     Total stockholders' equity          146,591     153,933      144,737 
                                         -------     -------      -------
Total liabilities and stockholders'
equity                                  $188,298    $195,363     $175,978 
                                         =======     =======      =======
                                         
<FN>
The accompanying notes are an integral part of these consolidated 
financial statements.
</TABLE>


<TABLE>

              THE BOMBAY COMPANY, INC. AND SUBSIDIARIES
               Consolidated Statements of Cash Flows
                      (Dollars in thousands)
                            (Unaudited)
<CAPTION>
                            
                            
                                                  Nine Months Ended
                                                ---------------------  
                                                November 1, November 2,
                                                  1997         1996
                                                ----------  ----------
<S>                                             <C>          <C>
Cash flows from operating activities:
  Net loss                                      ($7,521)     ($10,894)
  Adjustments to reconcile net loss
   to net cash from operations:
      Depreciation and amortization               7,499         8,547 
      Deferred taxes and other                    1,085         1,699 
      Management change cost                        800         3,672 
      Noncash contributions to employee 
      benefit plans                                  18         1,249 
  Change in assets and liabilities:
      Increase in inventories                   (25,560)      (14,042)
      (Increase) decrease in other current
      assets                                     (7,299)        2,620 
      Decrease in current liabilities            (2,443)      (12,864)
      Increase in noncurrent assets                (577)         (690)
      Increase in noncurrent liabilities            314           797 
                                                 ------        ------
  Net cash used by operations                   (33,684)      (19,906)
                                                 ------        ------
Cash flows from investing activities:
      Purchases of property and equipment        (2,696)       (3,746)
      Sales of property and equipment               163           231 
                                                  -----         -----
  Net cash used by investing activities          (2,533)       (3,515)
                                                  -----         -----
Cash flows from financing activities:
      Sale of stock to employee benefit plans       273           590 
      Proceeds from the exercise of employee 
      stock options                                 266           936 
                                                  -----         -----
        Net cash provided by financing
         activities                                 539         1,526 
                                                  -----         -----
Effect of exchange rate change on cash              166          (166)
                                                               
Net decrease in cash and cash equivalents       (35,512)      (22,061)

Cash and cash equivalents at beginning of
 period                                          63,130        24,079 
                                                 ------        ------
Cash and cash equivalents at end of period      $27,618        $2,018 
                                                 ======        ======

<CAPTION>
Supplemental disclosure of cash flow information:
<S>                                              <C>            <C>     
      Income taxes paid                          $1,656         $753 

<FN>
The accompanying notes are an integral part of these consolidated 
financial statements.
</TABLE>





               THE BOMBAY COMPANY, INC. AND SUBSIDIARIES

              Notes to Consolidated Financial Statements
              

(1) Accounting Principles

In the opinion of the Company, the accompanying consolidated financial
statements contain all adjustments (consisting of only normal recurring 
adjustments) necessary to present fairly the financial position as of 
November 1, 1997 and November 2, 1996, and the results of operations and 
cash flows for the nine months then ended.  The results of operations for
the nine month and three month periods ended November 1, 1997 and 
November 2, 1996 are not necessarily indicative of the results to be 
expected for the full fiscal year.  The consolidated financial statements 
should be read in conjunction with the financial statement disclosures 
contained in the Company's 1996 Annual Report to Shareholders.


(2)  Financing Arrangements

The Company has renewed its unsecured revolving credit agreements with 
banks, aggregating 40,000,000, of which $30,000,000 is committed.  These 
credit facilities, which expire April 14, 1998, are for working capital 
and letter of credit purposes, primarily to fund seasonal merchandise 
purchases, and bear interest at market rates based on prime.


(3)  Management Change

On October 3, 1997, the Company announced the departure of its Executive 
Vice President and Chief Financial Officer.  In accordance with a severance
and non competition agreement, a one time pre-tax charge of $800,000, 
equivalent to $.01 per share after tax, was recorded during the quarter 
ended November 1, 1997.



THE BOMBAY COMPANY, INC. AND SUBSIDIARIES

Item 2.  Management's Discussion and Analysis of Financial Condition and 
Results of Operations

Special Note Regarding Forward-Looking Statements

Certain statements in this Form 10-Q under "Management's Discussion and 
Analysis of Financial Condition and Results of Operations" constitute 
"forward-looking statements" within the meaning of the Private Securities 
Litigation Reform Act of 1995.  Such forward-looking statements involve 
known and unknown risks, uncertainties and other factors which may cause 
the actual results, performance or achievements of The Bombay Company, Inc. 
("Company") to be materially different from any future results, performance 
or achievements expressed or implied by such forward-looking statements.  
Such factors include, among others, the following:  competition; 
seasonality; success of operating initiatives; new product development and
introduction schedules; acceptance of new product offerings; advertising 
and promotional efforts; adverse publicity; expansion of the store 
chain; availability, locations and terms of sites for store development; 
changes in business strategy or development plans; availability and terms 
of capital; labor and employee benefit costs; changes in government 
regulations; risks associated with international business; regional weather
conditions; and other factors referenced in the Company's 1996 Form 10-K
Annual Report.

General

The Company is a specialty retailer which markets traditional and classic 
furniture, prints and accessories through its 420 locations of The Bombay 
Company ("Bombay") retail stores in 42 states in the United States and nine 
Canadian provinces.  To accommodate the increasing number of products, the 
Company introduced a large format Bombay store in late fiscal 1992.  The 
large format stores average 4,000 square feet, while the regular stores 
average 1,700 square feet.  Presently, the Company's store opening program 
calls for large format stores ranging in size from 2,500 to 3,500 square 
feet.  At November 1, 1997, 226 large format Bombay stores were in 
operation, including 137 stores that have been converted from regular stores
since fiscal 1992.  

The largest percentage of the Company's sales and operating income is 
realized in the fiscal quarter that includes December (Christmas season).  
Although the precise effect of inflation on operations 
cannot be accurately determined, management does not believe inflation has 
a material impact on sales or results of operations.

Results of Operations

Quarters Ended November 1, 1997 and November 2, 1996

Net sales were $71,329,000 for the quarter ended November 1, 1997 compared
to $72,816,000 for the same period last year, a decrease of 2%.  The 
decrease is due primarily to there being twelve fewer stores than at 
November 2, 1996 while same store sales were flat for the quarter.  
Furniture sales typically represent the majority of revenues.  With the 
fall marketing period including a large number of furniture introductions 
and a focus on home decorating, furniture represented approximately 55% of 
sales for the quarter compared to 54% for the comparable prior year quarter.  
Wall decor and lamp sales reflected modest improvement while accessories 
performed at slightly lower levels than last year.


Cost of sales, including buying and occupancy costs, was $50,363,000 for 
the quarter compared to $53,481,000 for the same period last year.  As a 
percentage of sales, cost of sales decreased to 70.6% for the quarter 
compared to 73.4% for the comparable prior year period.  The 280 basis point 
improvement is due to higher product margin (300 basis points) partially 
offset by higher buying and occupancy costs relative to sales (20 basis 
points).  The higher product margins reflect lower 
levels of promotional activity compared to the prior year and selective 
product cost reduction efforts.  The percentage increase in buying and 
occupancy costs reflects their relatively fixed nature measured against 
sales declines.

Selling, general and administrative expenses were $24,538,000 or 34.4% of
sales for the quarter compared to $29,492,000 or 40.5% of sales for the 
comparable prior year period.  The current and prior  year amounts include 
charges of $800,000 and $4,200,000, respectively, resulting from separate 
management changes.  Excluding these charges, selling, general and 
administrative expenses were $23,738,000 or 33.3% of sales for the current
quarter compared to $25,292,000 or 34.7% of sales for the comparable prior
year period.  The decreases are the result of on-going expense control 
efforts and are primarily related to reduced payroll expenses.

Nine Months Ended November 1, 1997 and November 2, 1996

Net sales were $207,303,000 for the nine months ended November 1, 1997 
compared to $212,101,000 for the same period last year.  Same store sales 
declined 1% for the year to date.

Cost of sales, including buying and store occupancy costs, was $151,857,000
or 73.3% of sales for the nine months compared to $154,955,000 or 73.1% 
for the same period last year.  The gross margin decrease is due to 
higher buying and occupancy costs relative to sales (60 basis points) 
partially offset by higher product margin (40 basis points).  The percentage
increase in buying and occupancy costs reflects their relative fixed nature
measured against sales declines.

Selling, general and administrative expenses were $69,717,000 or 33.6% of 
sales for the nine months compared to $76,547,000 or 36.1% for the same 
period last year.  Excluding the effects of charges associated with changes
in management, selling, general and administrative expenses were 
$68,917,000 or 33.2% or sales for the nine months compared to $72,347,000 
or 34.1% or sales for the comparable prior year period.  The decreases 
are the result of on-going expense control efforts and are primarily 
related to reduced payroll expenses partially offset by increased 
advertising costs.

Liquidity and Capital Resources

The primary sources of liquidity and capital resources are cash flows from
operations and bank lines of credit.  Bank borrowings are utilized to fund 
seasonal inventory purchases.  In addition, the bank credit lines are used 
for overseas merchandise purchases.  Letters of credit totaling $27,983,000 
were outstanding at November 1, 1997.  Bank lines total $40,000,000, of 
which  $30,000,000 is committed, under revolving credit agreements expiring
April 14, 1998.  Based on available cash balances at November 1, 1997 of 
over $27,000,000 and cash forecasts for the year, the Company does not 
expect to be in a borrowing position at any time during fiscal 1997.  The 
bank credit lines are, however, being utilized to support inventory 
purchases under letters of credit.


Capital expenditures through November 1, 1997 totaled $2,696,000 and 
included expenditures relating to the construction of five new or converted
stores as well as routine purchases of machinery and equipment.  The store
expansion program for the remainder of the fiscal year anticipates 
approximately two store conversions.  The total estimated capital 
expenditures for fiscal 1997 are $4,000,000.  The Company believes that 
its current cash position, cash flow from operations and credit line 
facilities will be sufficient to fund current operations and its capital 
expenditure program.



             THE BOMBAY COMPANY, INC. AND SUBSIDIARIES
                  PART II - OTHER INFORMATION




Item 6. Exhibits and Reports on Form 8-K

(a)  No Exhibits have been filed as a part of this report.

(b)  No reports on Form 8-K were filed during the quarter 
     ended November 1, 1997.





             THE BOMBAY COMPANY, INC. AND SUBSIDIARIES

                                 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, 
the registrant has duly caused this report to be signed on its behalf 
by the undersigned thereunto duly authorized.

                                    THE BOMBAY COMPANY, INC.
                                    (Registrant)



                                    /s/  Robert S. Jackson
                                    Robert S. Jackson
                                    Interim President and 
                                    Chief Executive Officer





                                     /s/  Elaine D. Crowley
                                     Elaine D. Crowley
                                     Vice President of Finance 
                                     and Treasurer



Date:  December 16, 1997