Bed Bath & Beyond on Thursday reported its first same-store sales increase in nearly four years, as its online business surged more than 80% during the quarter, as shoppers stocked up on disposable face masks, college dorm decor and patio furniture.
Its shares skyrocketed more than 18% in premarket trading.
The company said it saw 2 million new customers during the period, many of them younger and spending more money per trip. The sales gains, plus lower spending on promotions and the use of its stores to fulfill more online orders, helped swing the company to a profit.
Source: CNBC
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