Name: Bed Bath & Beyond Inc. (NASDAQ:BBBY) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Download chart

Bed Bath & Beyond Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Aug 27, 2022	May 28, 2022	Feb 26, 2022	Nov 27, 2021	Aug 28, 2021	May 29, 2021	Feb 27, 2021	Nov 28, 2020	Aug 29, 2020	May 30, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	Jun 1, 2019	Mar 2, 2019	Dec 1, 2018	Sep 1, 2018	Jun 2, 2018	Mar 3, 2018	Nov 25, 2017	Aug 26, 2017	May 27, 2017	Feb 25, 2017	Nov 26, 2016	Aug 27, 2016	May 28, 2016
Net sales	1,437,018)	1,463,418)	2,051,396)	1,877,874)	1,984,696)	1,953,812)	2,619,141)	2,618,472)	2,687,968)	1,307,447)	3,106,822)	2,759,322)	2,719,447)	2,572,989)	3,307,881)	3,032,231)	2,935,018)	2,753,667)	3,716,264)	2,954,539)	2,936,357)	2,742,141)	3,533,954)	2,955,484)	2,988,235)	2,738,084)
Cost of sales	(1,038,756)	(1,114,106)	(1,471,588)	(1,208,954)	(1,383,627)	(1,320,118)	(1,793,653)	(1,661,905)	(1,700,431)	(958,958)	(2,093,166)	(1,845,485)	(1,992,459)	(1,685,810)	(2,161,020)	(2,028,521)	(1,946,457)	(1,788,819)	(2,382,984)	(1,913,478)	(1,867,798)	(1,742,026)	(2,190,863)	(1,862,710)	(1,871,342)	(1,714,492)
Gross profit	398,262)	349,312)	579,808)	668,920)	601,069)	633,694)	825,488)	956,567)	987,537)	348,489)	1,013,656)	913,837)	726,988)	887,179)	1,146,861)	1,003,710)	988,561)	964,848)	1,333,280)	1,041,061)	1,068,559)	1,000,115)	1,343,091)	1,092,774)	1,116,893)	1,023,592)
Selling, general and administrative expenses	(634,877)	(637,508)	(682,605)	(697,953)	(652,972)	(658,762)	(759,248)	(890,740)	(850,218)	(724,157)	(1,027,041)	(931,814)	(880,889)	(892,754)	(933,691)	(954,197)	(909,703)	(883,619)	(996,177)	(932,701)	(899,712)	(853,104)	(913,163)	(881,491)	(835,920)	(810,566)
Impairments	(55,518)	(26,699)	(18,059)	(1,759)	(7,584)	(9,129)	45,093)	(57,997)	(29,176)	(85,261)	(67,821)	(11,781)	(28,357)	(401,267)	(509,905)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Restructuring and transformation initiative expenses	(54,069)	(24,263)	(44,625)	(41,219)	(24,495)	(33,686)	(58,304)	(16,770)	(27,128)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Gain (loss) on sale of businesses	—)	—)	—)	(14,100)	(132)	(3,989)	(76,681)	(113,909)	189,528)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Operating profit (loss)	(346,202)	(339,158)	(165,481)	(86,111)	(84,114)	(71,872)	(23,652)	(122,849)	270,543)	(460,929)	(81,206)	(29,758)	(182,258)	(406,842)	(296,735)	49,513)	78,858)	81,229)	337,103)	108,360)	168,847)	147,011)	429,928)	211,283)	280,973)	213,026)
Interest expense, net	(18,603)	(16,448)	(16,809)	(15,772)	(16,121)	(16,000)	(18,566)	(17,805)	(23,371)	(17,171)	(15,370)	(17,179)	(16,342)	(15,898)	(15,440)	(22,691)	(14,611)	(16,732)	(16,294)	(13,621)	(19,166)	(16,580)	(16,787)	(18,254)	(18,199)	(16,315)
Gain (loss) on extinguishment of debt	—)	—)	—)	—)	(111)	(265)	—)	—)	77,038)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Earnings (loss) before (provision) benefit from income taxes	(364,805)	(355,606)	(182,290)	(101,883)	(100,346)	(88,137)	(42,218)	(140,654)	324,210)	(478,100)	(96,576)	(46,937)	(198,600)	(422,740)	(312,175)	26,822)	64,247)	64,497)	320,809)	94,739)	149,681)	130,431)	413,141)	193,029)	262,774)	196,711)
(Provision) benefit for income taxes	(1,354)	(2,060)	23,185)	(174,546)	27,131)	37,263)	51,277)	65,213)	(106,310)	175,809)	31,162)	8,385)	59,835)	51,655)	58,382)	(2,468)	(15,608)	(20,921)	(126,765)	(33,438)	(55,451)	(55,148)	(144,411)	(66,605)	(95,439)	(74,092)
Net earnings (loss)	(366,159)	(357,666)	(159,105)	(276,429)	(73,215)	(50,874)	9,059)	(75,441)	217,900)	(302,291)	(65,414)	(38,552)	(138,765)	(371,085)	(253,793)	24,354)	48,639)	43,576)	194,044)	61,301)	94,230)	75,283)	268,730)	126,424)	167,335)	122,619)

The financial performance of the entity demonstrates a transition from consistent profitability between 2016 and 2018 to a period of significant instability and sustained losses from 2019 through August 2022. A systemic decline in revenue, coupled with substantial non-recurring charges, has severely eroded the organization's earnings capacity.

Revenue Trends: Net sales remained relatively stable between 2016 and 2018, typically fluctuating between 2.7 billion and 3.7 billion US dollars per quarter. However, a marked downward trajectory began in 2019. A critical volatility point occurred in May 2020, where sales dropped to 1.3 billion US dollars, followed by a partial recovery. Despite this, a secular decline is evident from 2021 onward, with sales falling to 1.4 billion US dollars by August 2022, representing a significant contraction in market reach or demand.
Gross Profitability and Margin Compression: Gross profit followed a similar pattern to net sales, peaking at 1.3 billion US dollars in early 2017 and early 2018. A sharp deterioration in gross profit is observed starting in 2019. While cost of sales decreased in absolute terms as revenue fell, the gross profit margin experienced compression. By August 2022, gross profit had fallen to approximately 398 million US dollars, indicating a reduced ability to maintain pricing power or manage procurement costs relative to sales volume.
Operating Expenses and Cost Management: Selling, general, and administrative (SG&A) expenses remained largely stagnant between 800 million and 900 million US dollars during the initial period of stability. As revenue declined, SG&A expenses were gradually reduced, dropping to approximately 634 million US dollars by August 2022. This suggests an attempt at cost-containment; however, the reduction in overhead was insufficient to offset the rapid loss of gross profit, leading to widening operating losses.
Non-Recurring Charges and Impairments: The financial profile shifted dramatically in March 2019 with the introduction of substantial impairment charges, starting with a 509 million US dollar loss. Frequent impairment and restructuring expenses became a recurring feature of the income statement from 2019 through 2022. Restructuring and transformation initiative expenses became prominent in late 2020, consistently draining tens of millions of dollars per quarter, reflecting a period of distressed organizational realignment.
Net Earnings and Bottom-Line Performance: Operating profit transitioned from positive territory in 2016-2018 to chronic deficits. A brief return to operating profitability in August 2020 is attributable to a 189 million US dollar gain on the sale of businesses rather than core operational improvement. The final quarters analyzed show accelerating net losses, culminating in a loss of 366 million US dollars in August 2022. The impact of tax benefits provided intermittent relief in some quarters, but they were unable to mitigate the underlying operational decline.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Income StatementQuarterly Data

Income Statement
Quarterly Data