Dive Brief:
Facing foot traffic declines to stores, Bed Bath & Beyond on Thursday reported net sales in the second quarter fell 26% year over year to $2 billion, while comparable sales decreased 1%.
The home goods retailer’s gross margin fell 640 basis points to 30.3% from 36.7% in the year-ago period, according to a company press release.
Bed Bath & Beyond swung into the red, reporting a net loss of $73 million from a profit of $218 million last year.
Source: Retail Dive
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