Bed Bath & Beyond Results Presentation Deck
Q2 2020 FINANCIAL RESULTS
BED BATH & BEYOND
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financial performance
Solid comparable sales growth of -6%, led by significantly strong
digital comp sales growth of -89%
Adj. Gross Margin increased -200bps, driven primarily by:
Favorable product mix, including lower coupon expense and
better optimization of promotion & markdowns
Leverage of distribution and fulfillment costs
Partially offset by higher digital channel mix, including higher
net direct-to-customer shipping expense
Adj. EBITDA increased by 36% to $199mn or 7.4% margin
Improved cost of sales
Adj. SG&A expenses decreased
Strong cash flow generation >$750mn
Enhanced balance sheet, including -$2.2bn of liquidity and
a -30% reduction in gross debt vs FY20 Q1
Inventories (at cost) declined -8% vs FY20 Q1
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