Bed Bath & Beyond Results Presentation Deck
September 2022, 18 slides
  1. Bed Bath & Beyond
  2. Results Presentation Decks
draft restricted confidential second quarter fiscal earnings presentation baths beyond | Bed Bath & Beyond
this presentation contains forward looking statements within the meaning of section of the securities exchange act of including but not limited to our progress and anticipated progress towards our long term objectives as well as more generally the status of our future liquidity and financial condition and our outlook for our fiscal third quarter fiscal fourth quarter and fiscal year many of these forward looking statements can be identified by use of words such as may will expect anticipate approximate estimate assume continue model project plan goal preliminary and similar words and phrases although the absence of those words does not necessarily mean that statements are not forward looking our actual results and future financial condition may differ materially from those expressed in any such forward looking statements as a result of many factors such factors include without limitation general economic conditions including the recent supply chain disruptions labor shortages wage pressures rising inflation and the ongoing military conflict between russia and challenges related to our relationships with our suppliers including the failure of our suppliers to supply us with the necessary volume and type of products the impact of cost saving measures our inability to generate sufficient cash to service all of our indebtedness or our ability to access additional capital our inability to complete our expected credit financings changes to our credit rating or the terms on which vendors or will provide us credit the impact of strategic changes including the reaction of customers to such changes a challenging overall environment and a highly competitive retailing environment risks associated with the ongoing covid pandemic and the governmental responses to it including its impacts across our businesses on demand and operations as well as on the operations of our suppliers and other business partners and the effectiveness of our and governmental actions taken in response to these risks changing consumer preferences spending habits and demographics demographics and other factors that may impact the level of spending for the types of merchandise sold by us challenges in executing our channel and transformation strategy including our ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets we serve our ability to successfully execute our store fleet optimization strategies including our ability to achieve anticipated cost savings and to not exceed anticipated costs our ability to execute on any additional strategic transactions and realize the benefits of any acquisitions partnerships investments or divestitures disruptions to our information technology systems including but not limited to security breaches of systems protecting consumer and employee information or other types of or attacks damage to our reputation in any aspect of our operations the cost of labor merchandise logistical costs and other costs and expenses potential supply chain disruption due to trade restrictions or otherwise and other factors such as natural disasters pandemics including the covid pandemic political instability labor disturbances product recalls financial or operational instability of suppliers or carriers and other items inflation and the related increases in costs of materials labor and other costs inefficient management of relationships and dependencies on third party service providers our ability to attract and retain qualified employees in all areas of the organization unusual weather patterns and natural disasters including the impact of climate change uncertainty and disruptions in financial markets volatility in the price of our common stock and its effect and the effect of other factors including the covid pandemic on our capital allocation strategy changes to statutory regulatory and other legal requirements or deemed noncompliance with such requirements changes to accounting rules regulations and tax laws or new interpretations of existing accounting standards or tax laws new or developments in existing litigation claims or assessments and a failure of our business partners to adhere to appropriate laws regulations or standards except as required by law we do not undertake any obligation to update our forward looking statements forward looking | Bed Bath & Beyond
agenda key highlights strategic update outlook commentary appendix | Bed Bath & Beyond
second quarter highlights | Bed Bath & Beyond
| Bed Bath & Beyond
second quarter results key financial metrics total sales banner sales total liquidity gross margin | Bed Bath & Beyond
total net sales fleet optimization fleet optimization comparable comparable sales sales stores digital to | Bed Bath & Beyond
adjusted gross margin bridge to gross margin of reflects go of accelerated clearance activity resulting in double digit improvement in inventory to net sales gap clearance | Bed Bath & Beyond
liquidity pro liquidity of incremental liquidity cash flow our pone feed | Bed Bath & Beyond
strategic | Bed Bath & Beyond
bed bath recapturing market share by better serving our customers through an exceptional shopping experience deploying new customer experience model improved sales trends where in stock positions and i | Bed Bath & Beyond
driving growth through baby differentiated customer offering welcome to parenthood | Bed Bath & Beyond
outlook commentary | Bed Bath & Beyond
decline in range improvement in early trends similar to largely as anticipated and reflective of ongoing management of legacy inventory below reflecting cost optimization in originally planned by end of key assumptions new store closures program announced on minimum of stores to be closed by the end of new baby stores as initiated this year remain on track for outlook commentary adjusted a capital expenditures cash flow | Bed Bath & Beyond
the following table reconciles non financial measures presented in this presentation or that may be presented on the company second quarter conference call with analysts and investors the company believes that these non financial measures provide management analysts investors and other users of the company financial information with meaningful supplemental information regarding the performance of the company business these non financial measures should not be considered superior to but in addition to other financial measures prepared by the company in accordance with including comparisons of year to year results the company method of determining these non financial measures may be different from other companies methods and therefore may not be comparable to those used by other companies as such the company does not recommend the sole use of these non measure to assess its financial and earnings performance for reasons noted above the company is presenting certain non financial measures for its fiscal second quarter in order for investors to be able to more readily compare the company performance across periods the company has included comparable reconciliations for the period in the reconciliation tables below the company is not providing a reconciliation of its guidance with respect to adjusted and adjusted a because the company is unable to provide this reconciliation without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence the financial impact and the periods in which the adjustments may be recognized for the same reasons the company is unable to address the probable significance of the unavailable information which could be material to future results comparable sales reflects the year over year change in sales from the company retail channels including stores and digital that have been operating for twelve full months following the opening period typically six to eight weeks comparable sales excludes the impact of the company store network optimization program adjusted items refer to comparable sales as well as financial measures that are derived from measures calculated in accordance with which have been adjusted to exclude certain items adjusted gross margin adjusted a adjusted adjusted margin and adjusted diluted are non financial measures for more information about non financial measures see non information below total liquidity includes cash investments and availability under the company asset based revolving credit facility footnotes | Bed Bath & Beyond
total income tax impact total impact adjusted three months ended august excluding gross profit gross margin reported loss on sale of businesses loss on extinguishment of debt and transformation expenses and transformation initiative expenses loss earnings before provision benefit for income taxes provision benefit for income taxes effective tax rate impairments charges net loss income net loss per share diluted weighted average shares outstanding basic weighted average shares outstanding diluted reconciliation of net income loss to and adjusted net loss income depreciation and amortization interest expense provision benefit for income taxes as of net sales non | Bed Bath & Beyond
reported loss on sale of businesses loss on extinguishment of debt and transformation expenses impairment charges gain loss on sale of property total income tax impact total impact three months ended august excluding gross profit gross margin and transformation initiative expenses loss earnings before benefit provision for income taxes benefit provision for income taxes effective tax rate net loss income net loss earnings per share diluted weighted average shares outstanding basic weighted average shares outstanding diluted reconciliation of net loss income to and adjusted net loss income depreciation and amortization loss on extinguishment of debt interest expense benefit provision for income taxes as of net sales non | Bed Bath & Beyond
draft restricted confidential second quarter fiscal earnings presentation baths beyond | Bed Bath & Beyond
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