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Tag: Bed

Here’s What Aided Bed Bath & Beyond’s (BBBY) Q2 Earnings

October 5, 2020
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Bed Bath & Beyond Inc. BBBY came out with second-quarter fiscal 2020 results wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Results reflect gains from robust digital growth, courtesy of its BOPIS and contactless curbside-pickup facilities. Keeping in these lines, the latest introduction of same-day-delivery service is likely to aid the top line further. Apart from these, stringent cost-cutting actions and strong financial position contributed to quarterly growth.

Moving on, all its stores resumed operations by early July. However, it refrained from providing any fiscal 2020 outlook, given the continued uncertainty of the pandemic.

Q2 in Detail

Bed Bath & Beyond reported adjusted earnings of 50 cents per share for fiscal second quarter, up 47% from 34 cents reported in the year-ago quarter. Moreover, the figure came ahead of the Zacks Consensus Estimate of a loss of 17 cents. This uptick was mainly attributed to improved

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Bed Bath & Beyond Must Hold This Level After Huge Earnings Rally

October 1, 2020
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What a week it has been for Bed Bath & Beyond  (BBBY) – Get Report. Shares are up about 40% so far, helped along by the stock’s 33% gain on Thursday.

The move came after the company delivered better-than-expected earnings.

The struggling retailer generated non-GAAP earnings of 50 cents a share, easily beating expectations by 79 cents. Revenue of $2.69 billion sank just 1.1% year over year and beat expectations by $70 million.

The impressive results weren’t contained to just the headline numbers. Comp-store sales growth of 6% breezed past estimates looking for a 2.1% contraction.

Bed Bath & Beyond also increased its gross margins – which topped expectations – while also generating positive free cash flow, cutting down its gross debt and boosting liquidity.

Given the struggle the stock has faced, it’s no wonder to see it popping higher now. It looks like Wedbush was right

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Bed Bath & Beyond Is on the Verge of an Epic Comeback

October 1, 2020
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Against that backdrop, the latest quarterly earnings results from Bed Bath & Beyond Inc. stand out, because they show the long-suffering home goods chain to be in comeback mode. 

Bed Bath & Beyond, which also owns stores such as Buybuy Baby and World Market, reported on Thursday that comparable sales rose 6% in the three months ended in August from a year earlier, its first gain on that measure since the end of 2016. Executives said on a conference call that the trend continued into September, suggesting the company is sustaining momentum as the crucial holiday season approaches. Despite recording a 89% increase in digital sales — which can crimp profitability because of shipping costs — the retailer managed to deliver a higher adjusted gross margin than a year ago. The improvements sent shares soaring more than 30% on Thursday morning.   

Bed Bath & Beyond is certainly benefitting from factors

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Bed, Bath & Beyond Surges After Surprise Q2 Earnings Beat

October 1, 2020
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Bed, Bath & Beyond Inc.  (BBBY) – Get Report shares surged higher Thursday after the home retailer posted surprise second quarter earnings that topped Wall Street forecasts as online sales continue to surge.

Bed Bath & Beyond said adjusted earnings for the three months ending on August 29, its fiscal second quarter, were pegged at 50 cents per share, well ahead of the Street consensus forecast of 23 cents per share. Group revenues, the company said, were essentially flat to last year at $2.7 billion, but topped analysts’ forecast of a $2.6 billion tally thanks in part to an 89% annual increase in online sales.

Comparable store sales were solid, as well, rising 6% from last year and notching the first positive growth rate since the fourth quarter of the retailer’s 2016 fiscal year.

“Our growth strategy is unlocking improved financial performance, and the marked improvement in our

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Bed Bath & Beyond Posts Surprise Profit on Booming Online Business | Investing News

October 1, 2020
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(Reuters) – Bed Bath & Beyond Inc

on Thursday posted a surprise quarterly profit and its first comparable sales growth in nearly four years, boosted by strong online demand for home furnishing and decor, sending its shares up 17%.

Same-store sales jumped 6% for the second quarter ended Aug. 29, compared with a 1.78% drop estimated by analysts, according to IBES data from Refinitiv, largely helped by an 89% surge in online sales.

The retailer had been struggling to keep pace in a rapidly shifting retail landscape before the pandemic, prompting Chief Executive Officer Mark Tritton to focus more on the company’s online portfolio after taking charge last year.

“The marked improvement in our second quarter financial results reflects the potential of our digital-first, omni-always transformation,” Tritton said in a statement.

The company has benefited from consumers buying new furnishing and home decor online as many are expected to continue

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Bed Bath & Beyond Q2 Profit Tops Estimates, Comps. Up 6%; Shares Surge

October 1, 2020
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(RTTNews) – Bed Bath & Beyond Inc. (BBBY) reported second quarter adjusted net earnings per share of $0.50, compared to $0.34, a year ago. On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.23, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter net sales were approximately $2.69 billion, a decrease of approximately 1% from last year. Comparable sales increased approximately 6%, for the quarter. The company said comparable sales benefited from significantly strong growth in digital channels of approximately 89%, partially offset by an approximately 12% decline in comparable store sales. Analysts expected revenue of $2.6 billion, for the quarter.

During the second quarter, the company generated cash flow of over $750 million; reduced its gross debt by approximately $500 million or 30%; and further enhanced its liquidity position by approximately $400 million to approximately $2.2 billion.

Bed

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Bed Bath & Beyond (BBBY) Extends Rally After Upgrade

September 26, 2020
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Bed Bath & Beyond Inc. (BBBY) shares rose about 4% during Thursday’s session after Baird upgraded the stock to Outperform and raised its price target to $20 per share.

Key Takeaways

  • Bed Bath & Beyond shares moved higher after Baird upgraded the stock to Outperform with a $20.00 price target.
  • The analyst believes that the stock could be a compelling turnaround play following its cost-cutting efforts and an economic rebound.
  • The stock has more room to run on a technical level, but short interest remains high, suggesting some skepticism among investors.

Baird upgraded Bed Bath & Beyond shares and raised its price target, saying that channel checks suggest sales have stabilized following a rough patch. Analyst Peter Benedict is “intrigued” by the company’s turnaround potential and sees a material recovery in EBITDA over the next few years. While the stock has 58% short interest, the analyst feels that it’s “worth

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