Bed Bath & Beyond Inc, a US-based omnichannel retailer of domestics merchandise, has posted 6.1 per cent decrease in its net sales to $3.1 billion in fourth quarter (Q4) FY19 that ended on February 29, 2020 compared to sales of $3.3 billion in same period prior year. Net loss in Q4 were $65.4 million compared to the net loss of $253.7 million in FY18.
Bed Bath & Beyond Inc, a US-based omnichannel retailer of domestics merchandise, has posted 6.1 per cent decrease in its net sales to $3.1 billion in fourth quarter (Q4) FY19 that ended on February 29, 2020 compared to sales of $3.3 billion in same period prior year. Net loss in Q4 were $65.4 million compared to the net loss of $253.7 million in FY18.#
"Our fourth quarter performance was consistent with the market update we provided on February 11, 2020," Mark Tritton, Bed Bath & Beyond's president and CEO, said in a press release. "These results strengthen our resolve to continue to make the necessary, bold and broad-based changes needed to modernise our business, and give us confidence about our ability to improve on this quarterly performance."
Bed Bath & Beyond Inc, a US-based omnichannel retailer of domestics merchandise, has posted 6.1 per cent decrease in its net sales to $3.1 billion in fourth quarter (Q4) FY19 that ended on February 29, 2020 compared to sales of $3.3 billion in same period prior year. Net loss in Q4 were $65.4 million compared to the net loss of $253.7 million in FY18.#
Gross profit for the quarter were $1.01 billion (Q4 FY18: $1.1 billion). Selling, general and administrative (SG&A) expenses for the quarter were $1.02 billion (FY18: $933.6 million).
Bed Bath & Beyond Inc, a US-based omnichannel retailer of domestics merchandise, has posted 6.1 per cent decrease in its net sales to $3.1 billion in fourth quarter (Q4) FY19 that ended on February 29, 2020 compared to sales of $3.3 billion in same period prior year. Net loss in Q4 were $65.4 million compared to the net loss of $253.7 million in FY18.#
Company further reported that retail inventories of $2.0 billion (at cost) reflected a reduction of approximately 20 per cent, during the fiscal 2019 fourth quarter, compared to the end of the prior year period.
Bed Bath & Beyond Inc, a US-based omnichannel retailer of domestics merchandise, has posted 6.1 per cent decrease in its net sales to $3.1 billion in fourth quarter (Q4) FY19 that ended on February 29, 2020 compared to sales of $3.3 billion in same period prior year. Net loss in Q4 were $65.4 million compared to the net loss of $253.7 million in FY18.#
In its response to the Covid-19, Bed Bath & Beyond had earlier this month extended the temporary closure of all its retail banner stores across the US and Canada, other than buybuy Baby and Harmon Face Values stores, until May 2, 2020.
Bed Bath & Beyond Inc, a US-based omnichannel retailer of domestics merchandise, has posted 6.1 per cent decrease in its net sales to $3.1 billion in fourth quarter (Q4) FY19 that ended on February 29, 2020 compared to sales of $3.3 billion in same period prior year. Net loss in Q4 were $65.4 million compared to the net loss of $253.7 million in FY18.#
For the upcoming first quarter FY20, the company suggested that the results would be unfavourably impacted by the Covid-19 pandemic. Company also considers the duration and extent of the pandemic highly uncertain, and results could be impacted in ways that are difficult to predict at present.
Fibre2Fashion News Desk (JL)
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
