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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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.