As it works to execute on its turnaround strategy laid out last month, Bed Bath & Beyond on Thursday reported second quarter net sales fell 28% year over year to $1.4 billion, while comparable sales declined 26%.
By banner, comp sales at Bed Bath & Beyond fell 28%, “reflecting legacy merchandise assortment, out of stocks, and continued trends in customer traffic,” according to a company press release, while comps at BuyBuy Baby declined by a “high-teens percentage.”
The company’s operating loss more than quadrupled to $346.2 million from $84.1 million in the year-ago period, while net loss grew fivefold to $366.2 million from $73.2 million last year.
Source: Retail Dive
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