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Here’s how the retailer did in the three-month period ended May 28 compared with what analysts were anticipating, based on Refinitiv data:

Same-store sales, a key retail metric, declined 24% in the quarter compared with a year ago, worse than the 20.1% drop that analysts expected, according to StreetAccount. Online sales fell by 21% year over year. The figures include a 27% drop for its Bed Bath & Beyond banner and a mid single-digits decline for the Buybuy Baby banner.

Binger wrote: ↑

Wed Jun 29, 2022 3:24 pm

https://www.cnbc.com/2022/06/29/bed-bat ... nings.html

Here’s how the retailer did in the three-month period ended May 28 compared with what analysts were anticipating, based on Refinitiv data:

Same-store sales, a key retail metric, declined 24% in the quarter compared with a year ago, worse than the 20.1% drop that analysts expected, according to StreetAccount. Online sales fell by 21% year over year. The figures include a 27% drop for its Bed Bath & Beyond banner and a mid single-digits decline for the Buybuy Baby banner.

There is a lot going on here. Having 30 vacuums to choose from was great, I guess. As long as they have the vacuum that people want, extra inventory can be absorbed.

Like it or not, picking a fight with a pillow retailer was a bad move. BB&B will go bankrupt. They wanted to play politics and they got a lot of press for it, exactly as they wished for. It was obvious that the big boxes (and BB&B is a box) are not as relevant for recurring sales in urban areas as they are in the suburbs. Buying products for a studio apartment in SF still happens, but not as much as it does in a new development outside of Wichita.

At this point, BB&B is a money grab for creditors and executives.