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Bed Bath & Beyond reports Q3 FY20 sales of $2.6 bn
08 Jan 21 1 min read
Bed Bath & Beyond, a US-based omnichannel retailer, has posted 5 per cent sales decline to $2.61 billion in its third quarter (Q3) FY20 that ended on November 28, 2020 compared to the sales of $2.75 billion in the same period previous fiscal. Company incurred a net loss for the reported period of $75.4 million (Q3 FY19: $38.5 million).
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“We knew this holiday season would be like no other and we took several steps in advance to help our customers shop safely and with ease, including over 100 meaningful improvements to our digital-first, omni-always customer experience and enhancements to our contactless new Store and Curbside Pickup and Same Day Delivery service offerings,” Mark Tritton, Bed Bath & Beyond's president and CEO, said in a press release.
Company’s gross profit for Q3 FY20 rose to $956.5 million (Q3 FY19: $913.8 million). Selling, general and administrative expenses were $890.7 million ($931.8 million). Operating loss widened to $122.8 million ($29.7 million).
“We are seeing a deepening level of recognition and engagement from our customers, including the more than 2 million new online customers in the third quarter,” Tritton said.
Fibre2Fashion News Desk (JL)
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