Bed Bath & Beyond Inc Stock Price, News & Analysis

Bed Bath & Beyond (NASDAQ: BBBY) has formed a strategic partnership with Casper Sleep (NYSE: CSPR) to offer Casper's sleep products through its website, app, and select stores. This collaboration includes the launch of Casper's first shop-in-shop in Bed Bath & Beyond's flagship store in New York City, reopening on July 22, 2021. The partnership aims to enhance the selection of sleep solutions, featuring innovative products like the Casper Cooling Collection. Customers can also access these products via online purchasing options, including Buy Online & Pickup in Store.

Casper Sleep and Bed Bath & Beyond have partnered to bring Casper's sleep products to Bed Bath & Beyond customers, including a new shop-in-shop in NYC's flagship store reopening on July 22. This collaboration enables Casper to showcase its innovative offerings like the Cooling Collection, enhancing in-store shopping experiences. Casper products will be available in several locations and online for pickup and delivery, aligning with consumer trends in sleep and comfort. This partnership aims to leverage each brand's strengths to better serve customers.

Bed Bath & Beyond (BBBY) announced advancements in its digital services, launching Buy Online Pickup Curbside as early as 8 am, one hour before store openings. The company has also expanded Same Day Delivery to nearly 16,000 zip codes through a partnership with Roadie, leveraging over 200,000 drivers nationwide. Digital sales accounted for 38% of net sales in Q1 2021, with 31% fulfilled by store initiatives. Bed Bath & Beyond aims to enhance customer flexibility and convenience, continuing its transformation into a digital-first retailer.

On July 12, 2021, Bed Bath & Beyond (Nasdaq: BBBY) announced the launch of its new Owned Brand line, Squared Away, featuring storage, organization, and laundry care products aimed at enhancing home functionality. This collection focuses on affordable solutions for clutter-free living, particularly for college students preparing for campus life. Alongside the launch, the company introduced its College, Happier campaign, offering a 20% discount for college purchases and improved services like Pack & Hold. Squared Away adds to the company’s strategy of launching over 10 Owned Brands in a three-year transformation plan.

Bed Bath & Beyond reported a strong fiscal Q1 2021, with net sales of $1.95 billion, up 49% year-over-year, and comparable sales growth of 86%. Gross margin expanded to 32.4%, while adjusted EBITDA reached $86 million. The company is improving its outlook for the full fiscal year, expecting net sales of $8.2 billion to $8.4 billion and adjusted EBITDA of $520 million to $540 million. A key driver of growth was the successful launch of customer-inspired Owned Brands, leading to enhanced digital sales and market share recovery.

Bed Bath & Beyond (Nasdaq: BBBY) will implement three new paid benefit programs starting July 1, 2021, which include paid parental leave, company-paid short-term disability, and an associate relief fund. The new initiative aims to enhance employee welfare and strengthen the company’s Environmental, Social, and Governance strategy. Notably, stores will close on Thanksgiving Day, allowing associates time with family. The parental leave program offers 100% pay for up to 8 weeks, while the disability program offers similar terms for eligible associates.

Bed Bath & Beyond (Nasdaq: BBBY) introduced Wild Sage, a new line of eclectic home products aimed at young adults, just ahead of the back-to-college season. This collection includes bedding, decor, furniture, bath products, and table linens, all designed to reflect personal stories. Priced affordably from $4 to $200, products are available online and in-store across the U.S. and Canada. The launch is supported by a robust marketing campaign and targets the 'Creatives' segment, making it a key part of the company's strategy to revamp its product offerings.

Bed Bath & Beyond (NASDAQ: BBBY) announced a conference call for June 30, 2021, at 8:15 AM EDT to discuss its first quarter fiscal 2021 results. A press release with financial results will be issued 30 minutes prior to the call. Interested parties can join the call by dialing 1-888-424-8151 or 1-847-585-4422 for international access, using passcode 7912336#. The call will also be available via a live audio webcast on the company’s investor relations website, with a replay option post-call.

Bed Bath & Beyond (Nasdaq: BBBY) announced its annual 'Beyond BIG Savings Event' from June 20-22, 2021, featuring free Same Day Delivery for orders over $39 and up to $100 in rewards for future purchases. This year's event offers discounts up to 50% on thousands of items, including major brands and essentials for home and outdoor living. Additionally, buybuy BABY will host its Big Baby Savings Event with similar promotions. The Company aims to enhance customer convenience and value through these initiatives, including a recently strengthened Same Day Delivery service.