Earnings Preview: How Bad Was Bed Bath & Beyond's First Quarter?
On Wednesday, Bed Bath & Beyond (NASDAQ: BBBY) will report its results for the first quarter of fiscal 2020. There's no question that the upcoming earnings report is going to be awful, as the vast majority of the company's stores were closed for most of the period, which roughly corresponds to the months of March, April, and May. Moreover, Bed Bath & Beyond was barely profitable in the first quarter of its 2019 fiscal year, earning a meager $15.5 million adjusted profit.
Still, there are degrees of awful. The key questions coming into Bed Bath & Beyond's earnings report are just how much money the company lost last quarter and whether management can give investors any comfort that earnings and cash flow will return to break even soon.
Bed Bath & Beyond has already shared some information that sheds light on its first-quarter performance. During the company's Q4 earnings call in mid-April, management disclosed that net sales had plunged 42% year over year in the first half of the quarter, including a 31% decline in March.
Source Fool.com
