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Sergey Savastiouk's Avatar
published in Blogs
Apr 28, 2020
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Bed Bath & Beyond (BBBY, $6.74) had more than +85% increase in April online sales

Bed Bath & Beyond   reported more than +85% surge in its April digital sales .

The home goods retail chain converted about a quarter of its U.S. and Canada stores to regional fulfillment centers to support online sales. It also brought back several hundred associates from furlough.

Adjusted earnings for the three months ended March 2 came in at 38 cents a share, which is  -68% lower from the year-earlier period. However, the figure is  18 cents ahead of the Street consensus expectation.

Net sales for the quarter declined  -6.1% to $3.1 billion, but exceeded analysts' estimates of  $3 billion.

Comparable-store sales fell -10%.  Digital sales for the quarter dropped -16% .

Bed Bath’s stores would remain closed until at least May 16, except for its Buy Buy Baby and Harmon Face Values brands. 

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an operator of chain of home furnishings stores

Industry SpecialtyStores

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Industry
Specialty Stores
Address
650 Liberty Avenue
Phone
+1 908 688-0888
Employees
37600
Web
https://www.bedbathandbeyond.com
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