Retail

Bed Bath & Beyond (BBBY) reports Q1 2021 earnings miss

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Bed Bath & Beyond fiscal first-quarter sales climbed nearly 50%, as the retailer’s turnaround initiatives including launching new brands and remodeling stores helped to draw in customers for everything from blenders to bath mats.

The progress coming ahead of the key back-to-school shopping season was enough for the company to hike its full-year revenue outlook.

However, its first-quarter earnings were hurt and will continue to be weighed down by the costs that Bed Bath & Beyond faces in order to successfully turn its business around.

“We’re in the early stages of our transformation,” Chief Executive Mark Tritton said during an earnings conference call. “Our first-quarter results prove we…



Source cnbc.com

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