![]() Wells Fargo analyst Zachary Fadem, who also attributed the upside stock move to elevated short interest, called BuyBuy Baby a bright spot in the report. when they're planning their first child or having their first child to when they send them to college," said Tritton, during an earnings call. "We think about the ecosystem of life moments. Birth rates are up as millennials start raising families, which is amplifying the momentum at BuyBuy Baby, the CEO said, driving up sales of baby food, car seats and other accessories. Tritton said baby categories including apparel were strong compared with last year, while sales of bedding and bath items slowed after a pandemic-driven boom. The metric was up, however, a mid-single-digit rate at its BuyBuy Baby banner. Analysts surveyed by StreetAccount were forecasting a 0.9% drop.Īt Bed Bath, same-store sales fell 10%. Systemwide same-store sales, a metric that tracks revenue at stores open for at least 12 months, dropped 7%. It has closed 170 Bed Bath locations so far this fiscal year and is expected to reach 200 by year-end. The company noted that some of the declines were due to planned and ongoing store closures. Sales fell 28% to $1.88 billion from $2.62 billion a year earlier. Analysts surveyed by Refinitv had expected it to breakeven. Excluding one-time items, it lost 25 cents a share. ![]() The company's net loss grew to $276 million, or $2.78 per share, from a loss of $75 million, or 61 cents a share, a year earlier. 27 compared with what analysts were anticipating, using Refinitiv data: Here's how the retailer did in the three-month period ended Nov. Limited paper supply from vendors limited the number of circulars it could send to potential customers, it said. The company also said it cut back its promotional mailers too drastically, which hurt sales as the flyers can draw people into stores.
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