Bed Bath & Beyond, Inc. (NYSE:BBBY) stock soared after the company reported first-quarter results after Monday's closing bell, beating analyst revenue estimates.
Here's a look at the details inside the report.
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BBBY Q1 Details
Bed Bath & Beyond reported quarterly adjusted losses of 25 cents per share, which met analyst estimates, according to Benzinga Pro data.
Quarterly revenue came in with sales at $247.76 million, which beat the $240.09 million Street estimate.
“Notably this was the first quarter of significant revenue growth in 19 quarters, signaling strong brand awareness among customers and improved assortment and realization of investments in customer experience,” the company wrote in the earnings release.
“Our first quarter results show that the work we’ve been doing to stabilize and rebuild the business is taking hold,” said Marcus Lemonis, executive chairman and CEO.
“We delivered real year-over-year revenue growth, something we haven’t seen meaningfully in several years, while continuing to take costs out of the business and operate more efficiently. That combination matters,” Lemonis added.
BBBY Stock Price: According to data from Benzinga Pro, Bed Bath & Beyond stock was up 25.47% to $6.70 in Monday's extended trading.
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