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Bed Bath & Beyond (BBBY) investor relations material
Bed Bath & Beyond Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net loss narrowed to $4.5M, a 93% year-over-year improvement, with adjusted EBITDA loss improving 85% to $4.9M, marking the seventh consecutive quarter of progress toward profitability.
Revenue for Q3 was $257.2M, down 17% year-over-year, mainly due to discontinued Canada operations, but partially offset by a 3% increase in average order value.
Gross margin rose 420 basis points to 25.3% year-over-year, driven by lower fulfillment/returns costs, optimized freight, and tighter promotions.
Technology and G&A expenses decreased by $13M year-over-year, reflecting operational efficiencies and disciplined execution.
Liquidity remained strong with over $200M in cash, equivalents, restricted cash, and inventory, plus additional proceeds from ATM settlements post quarter-end.
Financial highlights
Net revenue for Q3 was $257.2M, down 17% year-over-year, with gross profit of $65.2M and gross margin of 25.3% (up 420 bps YoY).
Net loss narrowed to $4.5M, a $57M improvement year-over-year; adjusted EBITDA loss improved to $(4.9)M.
Sales and marketing expense improved by 260 basis points to 14% of revenue, or $36M.
Technology and G&A expense dropped to $33M, achieving a $150M annual run-rate commitment.
Ended quarter with $202M in cash, equivalents, and inventory.
Outlook and guidance
Management expects revenue trends to turn positive in 2026, with margin consistency and $20M in additional operating expense efficiencies targeted.
Targeting a 12% sales and marketing expense ratio in 2026 and continued focus on marketing efficiency, sales growth, and margin enhancement.
All 250 retail locations expected to be converted by mid-2026, supporting an asset-light, omnichannel model.
Focus on expanding the Everything Home ecosystem, deepening AI/data integration, and maintaining margin discipline.
Liquidity is expected to be sufficient for at least the next 12 months, with ongoing cost controls and capital management.
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