Bed Bath & Beyond Results Presentation Deck
Strengthening Our Financial Position
Taking Proactive Steps to Preserve Liquidity and
Financial Flexibility
5
Implements Additional Cost Reductions
▪ Furloughed majority of store associates and portion of corporate
associates until at least 5/2/20
Temporarily reduced salaries of senior executive team by 30%
■ Temporarily reduced quarterly cash compensation of Board of
Directors by 30%
Reducing discretionary spend (e.g., business travel, advertising)
Renegotiating extensions of payment terms for goods and services,
and rent
▪ Managing to lower inventory levels.
I
■
Takes Further Actions
▪ Drew down additional $236 million remaining of available funds
from revolving credit facility
Suspended prior FY2020 plans for share repurchases, future
dividends and debt reduction
▪ Postponed $150 million in planned FY2020 CAPEX
Implementing applicable benefits of CARES Act
BED BATH & BEYOND
While Spring celebrations may look very different this year,
the essence of this time of year remains the same: renewal
and joy. In light of what's happening in our world today, the
season of optimism and hope could not have come at a better
time.
I want to take a moment to express my sincerest thanks to
you, our customers, who continue to shop with us. We are
honored you choose us for your needs and we pledge to do all
we can to make your experience with us the best it can be.
I also want to give a heartfelt thank-you to our associates
who have been working so hard to fill online orders and
deliver the items you need right now. Their dedication is
astonishing, and so deeply appreciated. This Sunday, our
warehouses and distribution centers will be closed to provide
our associates with much-needed downtime to connect with
family and friends.
Whether you are able to celebrate with family (even if
through phones and screens) or individually, best wishes for a
joyful holiday.
Mark
Mark Tritton
President and CEO
April 12, 2020
BED BATH &
BEYONDView entire presentation