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Negative Bed Bath & Beyond Q2 financial report

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Store closure impacted the retail giant the hardest

The earnings season is not a joyous reason for every company, such as the case for Bed Bath & Beyond. The latest report released on Wednesday showed predominately negative data. 

The company's sales decreased by 50% in the last quarter, although online sales grew by 100%, as people bought cleaning supplies and home décor. It reported $1.31 billion revenue, with an adjusted loss per share of $1.96. And it had a net loss of $302.29 million. Also, it ended the Q2 with approximately $1.2 billion in cash.

In order to get back to the level of profitability it had before the pandemic, Bed Bath & Beyond will permanently close around 200 of its stores in the next two years, starting later this year.

Bed Bath didn’t provide an outlook for the rest of the year, as the pandemic still makes its presence felt. 

Yesterday, in after-hours trading, the stock price fell almost 7%, and 40% since the beginning of the year. 

See how the companies did in the second quarter on CAPEX.com!

Sources: businessinsider.com, cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.