Bed Bath & Beyond continues to struggle mightily.
The near-dead home goods retailer released its long-awaited holiday quarter results on Tuesday morning, and the picture is not pretty.
Here are seven numbers that stood out to Yahoo Finance and help explain why the company is on the brink of ruin:
Net sales crashed 33% from the prior year.
Comparable digital sales fell a whopping 33%.
Bed Bath & Beyond banner comparable sales plunged 34%.
BuyBuyBaby banner comparable sales tanked in the “low 20” percentage area.
Adjusted operating loss of $225 million.
Only $153.1 million in cash on the balance sheet.
150 stores still expected to be closed.
The company’s future hangs in the balance
Bed Bath & Beyond said last week that bankruptcy is on the table as it works to shore up its tattered balance sheet after a disastrous holiday shopping season.
CEO Sue Gove reiterated on the company’s earnings release today that all options remain on the table to save the retailer.
“As we shared last week, we continue to work with advisors as we consider all strategic alternatives to accomplish our near- and long-term goals,” Gove said. “We have a team, internally and externally, with proven experience helping companies successfully navigate complex situations and become stronger. Multiple paths are being explored and we are determining our next steps thoroughly, and in a timely manner. We are committed to updating all stakeholders on our plans as they develop and finalize – particularly our employees and partners, who are the essential catalysts of our business and the cornerstones of our future.”
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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