Executing on Strategy; Delivering Consistent Sales and EBITDA Growth
2
+5% comparable sales growth on core Bed Bath & Beyond banner
1; +
+94% digital comparable sales growth on core Bed Bath & Beyond banner;
+77% digital comparable sales growth on total enterprise
+11% comparable sales growth in Top 5 destination categories combined (as referred below), representing 2/3 of core Bed Bath & Beyond banner sales; Market share gains in destination Bed category, with improving trends in Bath and Kitchen categories
+2.2 million approximate new online customers gained by core Bed Bath & Beyond banner during the fiscal 2020 third quarter;
+7 million approximate new online customers year-to-date
+340bps expansion in Gross Margin;
+310bps expansion in Adjusted Gross Margin
Bed Bath & Beyond Inc sells Cost Plus World Market - Triad Business Journal
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Bed Bath & Beyond is rising early Tuesday, a day after it announced it would sell Cost Plus World Market, its last non-core brand.
Bed Bath & Beyond (ticker: BBBY) said that private-equity firm Kingswood Capital Management was buying the store chain for an undisclosed amount; the deal is expected to close before Bed Bath’s fiscal year ends in February. In addition, Bed Bath announced a new $150 million accelerated share repurchase program. It will be added to the $225 million buyback plan launched in October, which it has largely funded from noncore asset sales.
The shares closed down in regular trading Monday, but are up 1.9% to $19.23 at recent check. Bed Bath has gained more than 9% year to date, rising nearly six-fold from its lows in March.