Bed Bath & Beyond net sales down 7.3% to $2.7 bn in Q2 '19

"We are making good progress against our four key near-term priorities, including: (1) stabilizing sales and driving top-line growth; (2) resetting the cost structure; (3) reviewing and optimising the company's asset base, including the portfolio of retail banners; and (4) refining our organisation structure. Our second quarter financial results reflect the relentless effort of our teams and our progress in driving the Company's transformation efforts to delight our customers, enhance our competitive position, improve our financial performance, and drive shareholder value," said Mary A Winston, interim CEO of Bed Bath & Beyond.

For the full-year of fiscal 2019, net sales are estimated to be around $11.4 billion and net earnings per diluted share are estimated to be between $2.08 and $2.13.

Meanwhile, the company has made substantial progress toward identifying a permanent CEO. It remains on track with its expectation that it will make an announcement soon.

ALCHEMPro News Desk (PC)