-=Bed Bath & Beyond (BBBY) reported earnings on Wed 8 July 20 (a/h)

Bed Bath & Beyond misses by $0.65, misses on revs, not providing comp data or guidance; plans to close approx 200 stores over next two years

Reports Q1 (May) loss of $(1.96) per share, excluding non-recurring items, $0.65 worse than the S&P Capital IQ Consensus of ($1.31); revenues fell 49.2% year/year to $1.31 bln vs the $1.39 bln S&P Capital IQ Consensus.

• Co not reporting same store comps due to temporary store closures.
• Net sales from digital channels grew 82%, including sales growth in excess of 100% during April and May 2020, while net sales from stores, of which 90% of the Company's total fleet were closed during the majority of the quarter, declined approximately 77%.
• Sales from digital channels represented nearly two-thirds of total sales.
• "With nearly all stores now open, we are delighted to welcome back our customers and drive an enhanced omni-always shopping experience. We are encouraged by early customer response, including continued strong demand, in excess of 80%, across our digital channels during the month of June, bolstered by the expansion of our Buy-Online-Pick-Up-In-Store (BOPIS) and Curbside Pickup services."

Outlook: Co is not providing guidance due to the continued uncertainty related to the impact of the COVID-19 pandemic. Co believes it has a strong financial position to manage through these uncertain times.

Restructuring Update:

• Co plans to close approximately 200 mostly Bed Bath & Beyond stores over the next two years and focus on other SG&A expense reductions.
• Co expects the aggregate benefit from these actions will generate future annualized savings of between $250-350 mln.

Earnings this week : July 6 - 10, 20 (wk 28)

Monday (July 6)
None

Tuesday (July 7)

• Morning: PAYX
• Afternoon: LEVI SGH

Wednesday (July 8)

• Morning: SMPL
• Afternoon: BBBY

Thursday (July 9)

• Morning: AZZ HELE WBA
• Afternoon: PSMT WDFC

Friday (July 10)

• Morning: GBX
• Afternoon: SJR

Bed Bath & Beyond (BBBY) reported earnings on Wed 8 Jan 20 (a/h)

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Bed Bath & Beyond misses by $0.41, misses on revs; comps -8.3%; withdraws full year guidance but maintains dividend; plans to reveal new strategic vision in early 2020

Reports Q3 (Nov) loss of $(0.38) per share, excluding non-recurring items, $0.41 worse than the S&P Capital IQ Consensus of $0.03; revenues fell 9.0% year/year to $2.76 bln vs the $2.86 bln S&P Capital IQ Consensus.

• Same store comps declined -8.3%; Co says comps were impacted by the calendar shift of the Thanksgiving holiday this year resulting in one less week of holiday sales. Adjusting for this calendar shift to include Thanksgiving and Cyber Monday weeks in both periods, comps were -3.6%.

Co expects its sales and profitability to remain pressured during Q4 (Feb). Considering these headwinds and the ongoing work by recently appointed CEO Mark Tritton to assess the business and finalize the details of the strategic plan as well as the extensive senior leadership changes within the past month, co believes it is appropriate to withdraw its fiscal 2019 full year financial guidance.

Co maintains its quarterly dividend of $0.17 per share.

Co plans to reveal new strategic vision in early 2020.

Earnings this week : Jan 6 - 10, 20 (wk 2)

Monday (Jan 6)

• Morning: CALM CMC

Tuesday (Jan 7)

• Morning: ANGO

Wednesday (Jan 8)

• Morning: STZ GBX LEN MSM RPM SCHN UNF WBA
• Afternoon: BBBY HELE

Thursday (Jan 9)

• Morning: AYI AZZ LNN SMPL
• Afternoon: KBH PSMT SNX WDFC

Friday (Jan 10) 

• Morning: INFY

Notable earnings reports: Cal-Maine Foods (NASDAQ:CALM) on January 6; Bed Bath & Beyond (NASDAQ:BBBY), Constellation Brands (NYSE:STZ), Lennar (NYSE:LEN), Walgreens Boots Alliance (NASDAQ:WBA), Lennar (LEN) Greenbrier (NYSE:GBX) on January 8; KB Home (NYSE:KBH) and Acuity Brands (NYSE:AYI) on January 9 and Infosys (NYSE:INFY) on January 10.

Bed Bath & Beyond (BBBY) reported earnings on Wed 10 Apr 2019 (a/h)

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Bed Bath & Beyond beats by $0.10, reports revs in-line; guides FY20 EPS above consensus; sees double digit EPS growth thereafter; raises dividend 6%; names Patrick Gaston Lead Independent Director

• Reports Q4 (Feb) earnings of $1.20 per share, $0.10 better than the S&P Capital IQ Consensus of $1.10 -- GAAP EPS was ($1.92), which included a non-cash goodwill and tradename impairments charge; revenues fell 11.0% year/year to $3.31 bln vs the $3.33 bln S&P Capital IQ Consensus.
• Comparable sales in the fiscal 2018 fourth quarter declined ~1.4% and included strong sales growth from the Company's customer-facing digital channels, and sales from stores that declined in the mid-single-digit percentage range.
• Co issues upside guidance for FY20, sees EPS of $2.11-2.20, excluding non-recurring items, vs. $1.81 S&P Capital IQ Consensus. 
• In 2020 and long term, incorporating the cumulative effects of its comprehensive transformation plan; its capital allocation strategy; and operating margin improvement of over 300 basis points, the co expects to achieve double-digit growth rates in net earnings per diluted share.
• The Company's Board of Directors today declared an increase in the quarterly dividend to $0.17 per share from $0.16 per share, payable on July 16, 2019 to shareholders of record at the close of business on June 14, 2019.
• During the fiscal 2018 fourth quarter, the Company repurchased ~$78 million of its common stock, representing ~5.2 million shares.
• The Company's ongoing efforts to implement and execute on organization-wide foundational initiatives are intended to drive four key objectives:
  • Mid-and-long-term revenue growth from portfolio strategy alignment across product assortment, customer experience and customer engagement, including greater focus on growing destinational categories (bed, bath, kitchen, windows and tabletop) and proprietary and private-label brands; the learnings from Next Generation Lab store experiences to enhance the in-store customer experience; an enhanced online experience; as well as efforts to assure that our customers are getting the right value for the products they want and need most.
  • Near-term and ongoing gross margin improvements through changes in assortment mix to drive sales to better margin categories; modifications in pricing algorithms; further optimization of coupon strategy; and supply chain improvements.
  • Near-term and ongoing SG&A improvements from improvements in store labor model; marketing efficiencies; and reductions in occupancy expense relating to ongoing store lease negotiations.
  • Current and sustainable world-class operational support through investments in human capital, data and analytics and process improvements; repositioning and articulating Bed Bath & Beyond brand in the marketplace across all customer interactions including assortment, store and digital experience and marketing; and enhancements in global sourcing capabilities.
• the Board has named Patrick Gaston as Lead Independent Director and has
  reconstituted its Nominating and Corporate Governance Committee. In addition,
  the Board is accelerating its refreshment program, which has already resulted in
  the addition of three new directors in the past two years.

Earnings this week : April 8 - 12, 2019 (wk 15)

Monday (April 8)

• none

Tuesday (April 9)

• Morning: LNN SJR
• Afternoon: PSMT WDFC  LEVI

Wednesday (April 10)

• Morning: DAL MSM
• Afternoon: BBBY

Thursday (April 11)

• Morning: APOG FAST RAD
• Afternoon: none

Friday (April 12) 

• Morning: FRC JPM PNC WFC

Bed Bath & Beyond (BBBY) reported earnings on Wed 9 Jan 2019 (a/h)

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Bed Bath & Beyond beats by $0.01, reports revs in-line; comps -1.8%; reaffirms FY18 EPS guidance; guides FY19 EPS above consensus 

• Reports Q3 (Nov) earnings of $0.18 per share, $0.01 better than the S&P Capital IQ Consensus of $0.17; revenues rose 2.6% year/year to $3.03 bln vs the $3.04 bln S&P Capital IQ Consensus.
  • Same store comps were -1.8%; includes strong sales growth from customer-facing digital channels, and sales from stores that declined in the mid-single-digit percentage range.
• Co reaffirms guidance for FY18, sees EPS of approx $2.00 vs. $2.00 S&P Capital IQ Consensus.
• Co issues upside guidance for FY19, sees EPS roughly same as FY18, so if approx $2.00, that would be well ahead of the $1.59 S&P Capital IQ Consensus.
• Co says it's ahead of plan with respect to its longer-term financial goals to moderate the declines in its operating profit and EPS, this year and next, and grow EPS by 2020.

Earnings this week : Jan 7 - 11, 19 (wk 2)

Note we will probably see a large number of companies preannouncing fourth quarter results next week.

Monday (Jan 7) 
Today is the start of the 4th quarter "guidance season" and we've had 39 companies provide guidance this morning.  22 of them were positive while 11 were negative.  Only January 2010, 2016, and 2018 (the 4th quarters of 2009, 2015, and 2017) had stronger starts.

• Morning: CMC
• Afternoon: None

Tuesday (Jan 8)

• Morning: AZZ HELE LNN
• Afternoon: KSHB SGH 

Wednesday (Jan 9)

• Morning: AYI GBX LEN MSM SCHN STZ
• Afternoon: BBBY KBH PSMT WDFC

Thursday (Jan 10)

• Morning: None
• Afternoon: SNX

Friday (Jan 11)

• APHA

Bed Bath & Beyond (BBBY) reported earnings on Wed 26 Sept 18 (a/h)

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Bed Bath & Beyond misses by $0.15, reports revs slightly below consensus; AugQ comps were -0.6%; guides FY19 EPS below consensus 

• Reports Q2 (Aug) earnings of $0.36 per share, $0.15 worse than the S&P Capital IQ Consensus of $0.51; revenues were unchanged year/year at $2.94 bln vs the $2.96 bln S&P Capital IQ Consensus.
  • Comps in AugQ were -0.6% vs market expectations of a slight gain, and included strong sales growth from customer-facing digital channels, and sales from stores that declined in the mid-single-digit percentage range.
• Co issues downside guidance for FY19, sees EPS at low end of prior guidance; co now expects EPS of approx $2.00 vs. $2.30 S&P Capital IQ Consensus and vs prior guidance in the low to mid $2.00 range.

Bed Bath & Beyond falls 15% to 18-year low in extended trade after missing sales and earnings estimates and lowering EPS guidance

Earnings expected this week : Sept 24 - 28, 18 (wk 39)

Earnings confirmed to report this week

Monday (Sept 24)    

• Afternoon: ASNA DAC MARA HUSA ALN

Tuesday (Sept 25)

• Morning: FDS INFO  JBL MANU NEOG
• Afternoon: AIR  CTAS KBH NKE

Wednesday (Sept 26)

• Morning: ATU KMX OMN WOR
• Afternoon: BBBY FUL  CMTL SPRT SCX

Thursday (Sept 27)

• Morning: ACN ANGO  CAG CCL CMD MKC RAD SCHL
• Afternoon: CAMP PRGS

Friday (Sept 28)

• Morning: BB  MTN

Bed Bath & Beyond (BBBY) reported earnings on Wed 12 Apr 2018 (b/o)

• (before earnings) Forward Dividend & Yield 0.60 (2.79%)

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Bed Bath & Beyond beats by $0.07, reports revs in-line; guides FY19 EPS below consensus; raises quarterly dividend 6.7% to $0.16/share 

• Reports Q4 (Feb) earnings of $1.48 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of $1.41; revenues rose 5.1% year/year to $3.72 bln vs the $3.68 bln Capital IQ Consensus. 
• Comparable sales in Q4 (14 weeks) decreased by ~0.6% vs. ests near -2%, and included strong sales growth from the Company's customer-facing digital channels, and sales from stores that declined in the mid-single-digit percentage range.
• Co issues downside guidance for FY19, sees EPS of low-to-mid $2 range vs. $2.78 Capital IQ Consensus Estimate. Co will guide sales guidance on the call.
• The co repurchased ~$45 million of its common stock, representing ~2 million shares, under its existing $2.5 billion share repurchase program.
• As a reflection of the long-term health of the business, and commitment to creating shareholder value, the Company's Board of Directors today declared an increase in the quarterly dividend to $0.16 per share from $0.15.

Bed Bath & Beyond (BBBY) reported earnings on Wed 20 Dec 2017 (a/h)

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Bed Bath & Beyond beats by $0.07, beats on revs; reaffirms FY18 EPS guidance 

• Reports Q3 (Nov) earnings of $0.44 per share, $0.07 better than the Capital IQ Consensus of $0.37; revenues fell 1.4% year/year to $2.95 bln vs the $2.9 bln Capital IQ Consensus.
  
  • Comparable sales in the fiscal 2017 third quarter decreased by approximately 0.3%. Comparable sales from customer-facing digital channels continued to have strong growth while comparable sales from stores declined in the low-single-digit percentage range during the fiscal 2017 third quarter.
• Co reaffirms guidance for FY18, sees EPS of about $3.00 vs. $3.12 Capital IQ Consensus Estimate.