Bed Bath & Beyond Results Presentation Deck
Non-GAAP Information
The following table reconciles non-GAAP financial measures presented in this press release or that may be presented on the Company's fourth quarter conference call
with analysts and investors. The Company believes that these non-GAAP financial measures provide management, analysts, investors and other users of the Company's
financial information with 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 by the Company in accordance with GAAP, including comparisons of 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. As such, the Company does not recommend the sole use of these non-GAAP measure to assess its financial and earnings performance.
For reasons noted above, the Company is presenting certain non-GAAP financial measures for its fiscal 2021 fourth quarter. In order for investors to be able to more
readily compare the Company's performance across periods, the Company has included comparable reconciliations for the 2020 period in the reconciliation tables below.
The Company is not providing a reconciliation of its guidance with respect to Adjusted EBITDA because the Company is unable to provide this reconciliation without
unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence, the financial impact, and the periods in which the adjustments may be
recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
Footnotes
¹ Comparable Sales reflects the year-over-year change in sales from the Company's retail channels, including stores and digital, that have been operating for twelve full
months following the opening period (typically six to eight weeks). Comparable Sales excludes the impact of the Company's store network optimization program.
² Adjusted items refer to comparable sales as well as financial measures that are derived from measures calculated in accordance with GAAP, which have been adjusted to
exclude certain items. Adjusted Gross Margin, Adjusted SG&A, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EPS - Diluted are non-GAAP financial measures.
For more information about non-GAAP financial measures, see "Non-GAAP Information" below.
³Total Liquidity includes cash & investments and availability under the Company's asset-based revolving credit facility.
BED BATH & BEYOND
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