Bed Bath & Beyond Q2 Net Loss Widens

(RTTNews) - Bed Bath & Beyond, Inc. (BBBY) on Tuesday reported a wider second-quarter net loss despite a 28% increase in revenue, reflecting acquisition-related costs and restructuring charges.

The company posted a net loss of $39.5 million, or $0.53 per share, compared with a net loss of $19.3 million, or $0.34 per share, in the year-ago quarter. The latest quarter included $21 million of special items, primarily acquisition-related costs, restructuring expenses and non-cash store-closure impairment charges.

Net revenue increased 28% to $361.2 million from $282.3 million a year earlier, marking the company's second consecutive quarter of year-over-year revenue growth after 19 quarters of decline.

Revenue growth was driven by strength in its core online marketplace business, improved merchandise assortment, customer experience investments and the inclusion of The Brand House Collective, acquired during the quarter.

Gross margin improved to 26.8% from 23.7% a year ago. Active customers increased 47% year over year to 6.4 million, while orders delivered more than doubled to 2.8 million. Orders per active customer rose to 1.79 from 1.32 a year earlier.