Bed Bath & Beyond's Turnaround Continues to Idle With Flat Operating Margin Performance Set for 2019
No-moat Bed Bath continues to cede share in the furniture and home furnishing market (which averaged 2.3% monthly increases over the firm’s fiscal year) posting a 3% sales decline in fiscal 2018 on a 1% same-store sales contraction. However, the firm anticipates earnings stabilization in 2019, improving its prior outlook from around $2 in EPS to $2.11-$2.20, excluding charges. This includes gross margin that is better than we had forecast (33.8%) by 60 basis points, but SG&A expenses that we...Bed, Bath & Beyond is an omnichannel retailer providing products, services and solutions for the home and life events. The company operates an ecommerce platform consisting of various websites and applications, including bedbathandbeyond.com, bedbathandbeyond.ca, harmondiscount.com, and facevalues.com. The company sells an assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings (including furniture and wall decor), consumables and certain juvenile products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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