Bed Bath Shares Spike as Digital Sales Rise - Store Closures Extended [TheStreet.com]
Bed Bath & Beyond, Inc. (BBBY)
Last bed bath & beyond, inc. earnings: 4/15 04:15 pm
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Source: TheStreet.com
Bed Bath & Beyond(BBBYGet ReportThe Union, N.J., retailer also said that its stores would remain closed until at least May 16, except for its Buy Buy Baby and Harmon Face Values brands.In a Securities and Exchange Commission filing last Friday, Bed Bath & Beyond said that to support the rise in digital sales, it converted about a quarter of its U.S. and Canada stores to regional fulfillment centers. And in turn the company brought several hundred associates back from furlough."In addition," the company said, "hundreds more new positions have been created in the company’s e-commerce distribution centers to meet the increased demand across digital channels."The company two weeks ago reporteda surprise earnings beat when it reported results.Bed Bath & Beyond said then that adjusted earnings for the three months ended March 2, the company's fiscal fourth quarter, were 38 cents a share. That was down 68% from the year-earlier period but 18 cents ahead of the Wall Street consensus forecast.
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