Bed Bath & Beyond Sees Big Decline

Bed Bath & Beyond had net sales of $1.463 million for the first quarter of 2022, a 25 per cent drop on a year-to-year basis. Bed Bath & Beyond banner comparable sales declined 27 per cent reflecting a shift in consumer behaviour and declining demand in the home sector. Comparable sales declined 24 per cent in stores and 21 per cent digitally from the previous year. Gross margin was 23.9 per cent, with an adjustable gross margin of 23.8 per cent.