#1BED BATH & BEYOND Fiscal 2018 Fourth Quarter Earnings Call April 10, 2019 Exhibit 99.2#2Forward Looking Statements This presentation may contain forward-looking statements, including, but not limited to, anticipated net earnings per diluted share and operating margin. Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, goal, and similar words and phrases. The Company's actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors across all channels; pricing pressures; liquidity; the ability to achieve anticipated cost savings, and to not exceed anticipated costs, associated with organizational changes and investments; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to trade restrictions, political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company's plans for new stores; the ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets it serves; the ability to asse and implement technologies in support of the Company's development of its omnichannel capabilities; uncertainty in financial markets; volatility in the price of the Company's common stock and its effect, and the effect of other factors, on the Company's capital allocation strategy; the impact of goodwill and intangible asset impairments; disruptions to the Company's information technology systems including but not limited to security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; reputational risk arising from challenges to the Company's or a third party product or service supplier's compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements, including without limitation proposed changes affecting international trade; changes to, or new, tax laws or interpretation of existing tax laws; new, or developments in existing, litigation, claims or assessments; changes to, or new, accounting standards; foreign currency exchange rate fluctuations; the integration of acquired businesses; and potential continuing uncertainty arising in connection with the announced intention by certain shareholders to seek control of the Company's Board of Directors. The Company does not undertake any obligation to update its forward-looking statements. BED BATH & BEYOND 1#3Our Mission To be the trusted expert for the home and heart-felt life events. BED BATH & BEYOND REGISTRY SOCIOLOGY BIOLOGY BED BATH & BEYOND 2#4Bed Bath & Beyond's Strategic Advantages Strong brands that are trusted by customers with a reputation for quality BED BATH & BEYOND COST PLUS WORLD MARKET FACE VALUES Unique, authentic and always affordable. Christmas Tree Shops decorist That! buy buy BABY HARBOR LINEN Personalization ONE KINGS LANE Of a MALL.COM T-Y GROUP Kind Omni-channel capabilities leveraging both physical and digital assets BED BATH& BEYOND BED BATH& MYOND BEDBATHE 1,500+ physical locations across all brands... Wedding & Gift Registry shop online ...complemented by our digital platform Deep expertise in whole home across all important life stages A solution for every room in the house... ...through every important life stage BED BATH & BEYOND 3#5Bed Bath & Beyond is Responding to the Challenging and Dynamic Retail Environment ● ● ● Dynamic Retail Environment Dramatic shift to omnichannel - customers demanding a seamless, convenient experience between in-store and digital Significant competition with high level of pricing transparency - both to the customer and the retailer Customer preference for breadth of offering in both brick & mortar and digital experience High level of interest in destinational categories (e.g. bed, bath, kitchen, windows and tabletop) and focus on experiential retail Shift from branded items to high-quality private label products ● ● ● ● Bed Bath & Beyond's Response Complete transformation of Bed Bath & Beyond's business over the past 18 months Structural change of our organization and infrastructure Investment in IT, analytics, and value optimization to enable data-driven decision making Evolution of our in-store and digital customer experience Enhancement of our assortment - including new private label brands Extensive focus on profitability, down to the item by channel BED BATH & BEYOND 4#6● ● ● ● Overview Strategic Focus Product Assortment Shopping Experience Services and Solutions Operational Excellence Driving Our Key Objectives Mid-and-Long Term Revenue Growth Near-term and Ongoing Gross Margin Improvements Near-term and Ongoing SG&A Improvements Current and Sustainable World-Class Operational Support ● ● ● · Achieving Our Financial Goals Fiscal 2018: Strong bias towards profitability over near-term sales, moderating the declines in operating profit and EPS Fiscal 2019: Strong bias towards profitability over near-term sales, moderating the declines in operating profit and EPS *updated for EPS growth in 2019* Fiscal 2020: Further grow EPS *updated for continued EPS growth* Long-term Target: Grow operating profit and further grow EPS BED BATH & BEYOND 5#7Key Objectives of Bed Bath & Beyond's Transformation Bias toward profitability across all decision making ● ● ● ● ● ● ● Drive Mid-and-Long-Term Revenue Growth Concept Strategy/ Brand Vision Proprietary Brands & Private Label Next Gen Lab Store Initiatives Front-End Optimization Value Optimization Drive Near-term and Ongoing Gross Margin Improvements ● ● ● ● ● Merchandise Mix Value Optimization Coupon Strategy Supply Chain Enhancements Global Sourcing/ 2nd Sourcing Office in Asia Drive Near-term and Ongoing SG&A Improvements Reconstructed Team/Change How We Work Data & Analytics as a Strategic Asset ● ● ● Store Labor Model Marketing Efficiency Occupancy/Real Estate Optimization Current and Sustainable World-Class Operational Support • IT Transformation/ India Development Center BED BATH & BEYOND 6#8Initiatives Driving Revenue Growth treasure grab it! Key Initiatives Concept Strategy/ Brand Vision Proprietary Brands & Private Label Next Gen Lab Store Initiatives Front-End Optimization Value Optimization ■ ■ ■ ■ ■ ■ Detail Completed full portfolio review and developed a product strategy Launched first of 6 new private label home furnishings brands Focused on growing preferred brands Testing new visual merchandising and assortment to re-imagine the store experience in 21 lab stores Early results show outperformance vs. comparable stores across: sales, transactions, gross margin ($ and %), and inventory reductions Bed Bath & Beyond and buybuy BABY digital channels re-platformed; conversion has grown New features are now released weekly (previously released monthly, moving towards daily releases) New pricing team and software now in place Benefitted from price changes in some baby product categories BED BATH & BEYOND 7#9Initiatives Driving Gross Margin Improvements Key Initiatives Merchandise Mix Value Optimization Coupon Strategy Supply Chain Enhancements Global Sourcing I I ■ ■ ■ ■ ■ Detail New portfolio strategy implemented Operational team in place to support merchants Rollout of private label brands New pricing team and software now in place Customizing the timing and depth of markdowns at the item and store level Limit coupon availability Implement coupon exclusions Adjust value of coupon offers Initiatives in place to optimize network Optimize eComm outbound fulfillment model Steps required to realize cost reductions through direct sourcing taken: Sourcing team enhanced and restructured 2nd sourcing office opened in Asia BED BATH & BEYOND 8#10Initiatives Driving SG&A Margin Improvements W Key Initiatives Store Labor Model Marketing Efficiency Occupancy/ Real Estate Optimization I ■ ■ I ■ Detail Optimization of store labor model Realignment of field support structure Reduction of labor-intensive tasks Reduction in store payroll (% of sales - FY18) Increased efficiency of direct mail events and digital marketing programs shift from Q1 to Q4 (FY19) Advertisi Increased branding efforts Completed comprehensive review of all store leases with assistance of 3rd party Negotiations with landlords are progressing as planned BED BATH & BEYOND 9#11Initiatives Providing World-Class Operational Support Key Initiatives Reconstructed Teams/ How we Work Data & Analytics as a Strategic Asset IT Transformation/ India Development Center (IDC) ■ · I Detail Added 20+ new leaders, including industry experts, some in newly constituted roles Migrated hundreds of associates into new teams Utilized world-class external consulting support Created agile teams/cross-functional collaboration to drive faster and more informed decision making Growing and embedding analytics capabilities throughout our business to enhance decision- making processes New technology leadership Redesigned IT processes to better identify, prioritize, resource, collaborate and deliver against ever-evolving technology roadmap Established IDC in 2018; plans to expand in 2019 to leverage the skilled talent and the 24-hour workday BED BATH & BEYOND 10#12Bed Bath & Beyond: Business Stabilizing, In-Flight Initiatives Poised to Deliver Impact In Q1 and FY 2019 Consolidated Net Sales Gross Margin SG&A* Operating Income* Diluted EPS** Capital Expenditures Capital Return 2019 Q1 -$2.6 bn 34.5% - 34.9% Including: 33.1% - 33.4% Excluding: 32.8% - 33.1% Including: $30 - $45 mm (Margin: 1.3% - 1.6%) Excluding: $39 - $54 mm (Margin: 1.6% -1.9%) Including: $0.02 - $0.07 Excluding: $0.07 - $0.12 2019 Full Year $11.4 $11.7 bn 34.2% - 34.6% Including: 30.6% - 31.0% Excluding: 30.5% - 30.9% Including: $400 - $440 mm (Margin: 3.4% - 3.8%) Excluding: $409 - $449 mm (Margin: 3.5% - 3.9%) Including: $2.06 - $2.15 Excluding: $2.11 - $2.20 $350 $375 mm Dividend: $0.68 per share Repurchase: -$225 mm Store traffic declines ■ Strong growth in digital channels ▪ Bias toward driving profitability ▪ Further optimizing coupon strategy ■ Driving sales to better margin categories ▪ Value optimization 2019 Key Drivers I Optimizing coupon strategy Supply chain enhancements Improvements in store labor model ▪ Lease re-negotiations ■ Advertising efficiency ▪ Increases in technology costs ■ Investment in warehouses for eCommerce distribution and personalized product *Including and excluding $9 million in severance and shareholder activity fees expected to be incurred in 2019 Q1 ** Including and excluding $0.05 in severance and shareholder activity fees expected to be incurred in 2019 Q1 BED BATH & BEYOND 11#13Bed Bath & Beyond: Re-Positioning for Sustainable Growth in FY 2020 and Long Term Consolidated Net Sales Gross Margin SG&A (incl depreciation) Operating Income Capital Expenditures Capital Return 2020 $11.4 $11.7 bn - 34.5% - 35.0% 30% -31% $430 $475 mm (Margin: 3.7% -4.1%) -$350 mm Dividend: $0.68 per share Repurchase: $400 mm Long-Term Target Low single-digit growth -36% margin (-200 bps improvement from 2018) 29% - 30% (~100 bps improvement from 2018) ~6% margin (-300 bps+ improvement from 2018) -$350 mm Ongoing commitment to capital return Key Drivers ▪ Revenue driving initiatives begin to impact 2020: Enhancing assortment incl. proprietary brands and private label -Scaling learnings from Next Gen Stores Expanding personalization and branding Continuing to leverage value optimization, FEO platform Growing baby business, decorating services ■ Driving sales to better margin categories Direct sourcing Coupon and pricing/ value optimization Supply chain enhancements ■ Store labor model changes Optimizing store footprints to meet market need Occupancy cost reduction Advertising efficiency ■ ■ ■ - ■ Diluted EPS of $2.60 - $2.70 in 2020. Progress toward long-term margin target and share repurchase will generate a double digit EPS CAGR over the next few years BED BATH & BEYOND 12#14Bed Bath & Beyond's Capital Allocation Framework Bed Bath & Beyond has a disciplined capital allocation framework that balances: (1) organic investment and financial stability to ensure long-term success; and (2) return of excess capital to our shareholders through dividends and share repurchases Organic Investment L Invest in our business to ensure we continue to be the expert in whole home for all life events, providing a strong value proposition and experience for our customers Invest in value-creating transformative initiatives to adapt to the dynamic retail environment and enhance growth and margins Strong Balance Sheet L *Net of both cash and investments Maintain modest leverage: 0.8x net debt* / EBITDA as of Feb-2019 Retain strong cash position As of Feb-2019, approximately $1 billion of cash and investments and $0.6 billion of net debt* Dividends L · Consistent cash return through attractive quarterly dividend Annualized dividend per share of $0.68 Share Repurchase ● Return excess cash flow to shareholders and supplement EPS growth with share repurchase Expect -$225 million in FY19 and $400 million in FY20 BED BATH & BEYOND 13#15Appendix LO X#16Q4 2018 Summary ● ● ● Net loss per diluted share of ($1.92), including a non-cash goodwill and tradename impairments charge Adjusted net earnings per diluted share of $1.20, excluding the impairments charge Operating profit margin deleverage less than prior year period, excluding the impairments charge. Comp sales declined ~1.4%, including strong sales growth from customer-facing digital channels Net sales decreased ~11%, primarily due to having one less week in the quarter, a calendar shift of post-Thanksgiving week out of the fourth quarter and actions taken during the quarter in support of our bias towards driving profitability over near-term sales growth Retail inventories at year end (March 2, 2019) reduced by nearly 5% as a result of our ongoing inventory optimization strategies BED BATH & BEYOND 15#17Q4 2018 P&L Summary* (amounts in millions, except comp%, and per share data) Comp Sales % Net Sales (a) Gross Profit SG&A Expenses Operating Profit Net Earnings EPS - Diluted WAS - Diluted Adjusted* March 2, 2019 % of Sales (1.4) $3,308 1,147 934 213 159 $1.20 132 Three Months Ended March 3, 2018 100.0 34.7 28.2 6.4 4.8 $3,716 1,333 996 337 194 $1.41 138 % of Sales (0.6) *Excluding the non-cash goodwill and tradename impairments charge. Please refer to the non-GAAP reconciliation on the following page. 100.0 35.9 26.8 9.1 5.2 (a) Comp sales are determined using the same calendar weeks as fiscal 2018; therefore the Q4 comp sales % compares the periods of December 2, 2018 - March 2, 2019 to December 3, 2017 - March 3, 2018. (b) Due to a decrease in merchandise margin and an increase in coupon expense. Change (1.2) (b) (1.4) (c) (2.6) (0.4) (c) Due to increases in technology related expenses, including related depreciation, and occupancy expenses, and costs related to litigation settlement. These increases were partially offset by a decrease in payroll and payroll- related items and advertising expenses, which includes a benefit of the shift of advertising expenses out of the fourth quarter and into the third quarter, because of the impact of the new Revenue Recognition standard. BED BATH & BEYOND 16#18Non-GAAP Reconciliation (amounts in thousands, except per share data) Reconciliation of Adjusted Operating Profit Reported operating loss Adjustments: Goodwill and tradename impairments (a) Total adjustments Adjusted operating profit Reconciliation of Adjusted Net Income Reported net loss Pre-tax Adjustments: Goodwill and tradename impairments (a) Total pre-tax adjustments Tax benefit of adjustments Total adjustments, after tax Adjusted net income Reconciliation of Adjusted Earnings per Diluted Share Reported loss per diluted share Goodwill and tradename impairments (a) Adjusted earnings per diluted share (unaudited) Three Months Ended March 2, 2019 $ $ $ $ $ $ (296,735) 509,905 509,905 213,170 (253,793) 509,905 509,905 (97,286) 412,619 158,826 (1.92) 3.12 1.20 This table reconciles non-GAAP financial measures presented in this press release. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding the performance of the Company's business. These non-GAAP financial measures should not be considered superior to, but in addition to other financial measures prepared in accordance with GAAP, including the year-to-year results. The Company's method of determining these non-GAAP financial measures may be different from other companies' methods and, therefore, may not be comparable to those used by other companies and the Company does not recommend the sole use of this non-GAAP measure to asses its financial and earnings performance. (a) Goodwill and tradename impairments include: (1) goodwill and tradename impairments related to the North American Retail reporting unit; and (2) goodwill and tradename impairments related to the Institutional Sales reporting unit. BED BATH & BEYOND 17