Bed, Bath & Beyond Inc.

-7.13 (-38.44%)
Other Pre-Announcement

Bed Bath & Beyond Posts Q1 Sales Of $1.463 Billion

Published: 06/29/2022 11:37 GMT
Bed, Bath & Beyond Inc. (BBBY) - Q1 Sales $1.463 Billion.
Qtrly Net Sales of $1,463m.
Qtrly EPS - Diluted Loss $4.49.
Qtrly Adjusted Comparable Sales Drop 23%.
Qtrly Bed Bath & Beyond Banner Comparable Sales Decline of 27%.
Sees 2022 Capital Expenditures of About $300 Million, Reflecting a Minimum Reduction of $100 Million.
Sees Sequential Comparable Sales Recovery to Occur in Second Half of Fiscal 2022 Versus First Half of Fiscal 2022.
In Quarter There Was an Acute Shift in Customer Sentiment And, Since Then, Pressures Have Materially Escalated.
Working With Suppliers to Adjust Future Inventory Receipts.
Accelerating Markdowns in Order to Right-size Inventory Levels Commensurate With Declining Sales Trends.