Bed Bath & Beyond Sees Comps, Cash Flow Turn Positive in June
Bed Bath & Beyond (NASDAQ: BBBY) is by no means out of the woods, but the home goods retailer reported that with most of its stores having reopened beginning in late May, same-store sales were able to turn positive, and -- arguably more importantly -- its cash flow was positive as well.
The company says it still thinks its physical stores are an asset that can help transform the business, but it is closing down as many 200 of them (about 20% of its real estate portfolio) over the next two years, as many of them were generating losses despite generating about $1 billion in annual sales.
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Source Fool.com
