Bed Bath & Beyond Results Presentation Deck
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Q1'FY22 RESULTS
First Quarter Highlights
Net Sales of approx. $1.5B; Comparable¹ sales of (23)% consistent with early quarter trends,
as previously shared
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PERIOD ENDING MAY 28, 2022
▪ Bed Bath & Beyond banner Comparable¹ Sales decline of (27)% reflecting rapid shift in consumer spending
patterns and declining demand in Home sector
▪ buybuy BABY Comparable¹ Sales of negative mid-single digits consistent with market trends; stable market
share
▪ GAAP Gross Margin of 23.9%; Adjusted² Gross Margin of 23.8% including 840bps of
transient costs related to an inventory markdown charge and port-related fees
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Adjusted² Gross Margin of 32.2%, excluding transient inventory markdown charge (620bps) and supply chain
costs such as port-related fees (220bps) referenced above which are considered transient
Announcing aggressive actions on inventory, cost and capex to align with rapidly changing
environment and performance
▪ Significantly optimizing inventory through adjustments to future receipts, additional markdowns, and
focused assortment planning
▪ Acutely right-sizing overall cost structure to sales volumes, including within supply chain
▪ Substantially reducing planned capex by a minimum of $100M (to approximately $300M) by pausing
remodels and new store openings for remainder of FY22
BED BATH & BEYOND
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