New Leadership Continues to Attempt Turnaround, but Bed Bath Remains a Show-Me Story
With the business still undergoing a long-lasting turnaround, no-moat Bed Bath posted another difficult quarter, with same-store sales declines of 6.6% (below the 5% downtick we forecast) and persistent margin pressure. An adjusted operating margin of 1.6% slid 130 basis points versus the first quarter last year, with gross margin contracting 50 basis points, to 34.5%, and the adjusted selling, general, and administrative ratio expanding more than 100 basis points to 32.9%, reaching levels that ...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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