See insights on Bed Bath & Beyond including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Excluding items, Bed Bath lost $3.22 per share, compared with estimates for a loss of $1.85. Bed Bath & Beyond has 5 employees at their 1 location and 7.87 b in annual revenue in FY 2021. The company's net loss was $366.2 million, or $4.59 per share, for the second quarter, compared with a loss of $73.2 million, or 72 cents per share, a year earlier. "To be fair, some progress has been made on reducing inventory levels, but we suspect this has been driven by extreme markdowns and write-offs, and there is likely to be further pain on this front before ranges normalize," Saunders said.īed Bath reported revenue of $1.43 billion, missing Wall Street estimates of $1.47 billion. Neil Saunders, managing director of GlobalData Retail, said of Bed Bath's plan: "It isn’t particularly compelling, and it will take significant time to enact. While the retailer said it is seeing progress in its merchandising and inventory changes, some analysts are skeptical that the retailer's strategies are sustainable. Check out the flyer with the current sales in Bed Bath & Beyond in Collingwood - 55 Mountain Rd, Unit 3. Bed Bath has a mountain to climb, with people spending less on home goods and furnishings. The big-box chain now aims to attract more consumers by dishing out its popular 20%-off coupons, as its customers look for variety and value, Bed Bath and Beyond Interim Chief Executive Sue Gove said during a Thursday earnings call. The company has also stopped remodeling stores and opening Bed Bath-branded locations to save on capital expenditures. Bed Bath & Beyond serves as a one-stop store for creating custom wedding registries conveniently and easily. If the company is unable to break its leases and faces push-back from commercial landlords, rent payments, labor costs and possible lawsuits could cause more financial woes. Analysts at UBS have estimated that Bed Bath will burn through $1.5 billion in cash over the next eight quarters.Įnhancing liquidity is critical for Bed Bath as it works to put $500 million in new financing into its turnaround efforts by opening new buybuy Baby stores, cutting private-label brands, offering more in national vendors such as Caphalon and closing more than 150 Bed, Bath and Beyond stores.Ĭrossen said the timing of continued progress depends on a "variety of factors," including the store closures. The company burned through $325 million in the reported quarter.
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Register now for FREE unlimited access to Registerīed Bath on Thursday said its current liquidity is $850 million.
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