The New Bed Bath & Beyond Provides Q3 2023 Performance Update; Active Customers, Last 12-Months, Over 4.8M As Of September 4, 2023. Mid-Single-Digit Percent Net Increase In Customers Since The U.S. Launch
Portfolio Pulse from Happy Mohamed
Bed Bath & Beyond has provided a Q3 2023 performance update, reporting over 4.8 million active customers as of September 4, 2023, a mid-single-digit percent net increase since its U.S. launch. The company also reported mid-single-digit percent growth in orders, a mid-teens percent decline in revenue, and a high-teens percent decline in average order value. Gross profit as a percent of revenue was approximately 18%, and sales & marketing expense as a percent of revenue was approximately 15%. The company has seen increased website visits and improved conversion since the U.S. launch.
September 06, 2023 | 12:38 pm
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NEUTRAL IMPACT
Bed Bath & Beyond's Q3 2023 performance update shows mixed results. While the company has seen an increase in active customers and orders, it has also reported a decline in revenue and average order value. This could potentially impact the company's stock price.
The increase in active customers and orders is a positive sign for Bed Bath & Beyond, indicating that its U.S. launch has been successful in attracting more customers. However, the decline in revenue and average order value is concerning and could potentially impact the company's profitability. This mixed performance could lead to uncertainty among investors, potentially affecting the company's stock price.
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