Bed Bath & Beyond Inc. said its loss narrowed for the fiscal first quarter as its sales rose compared with the same period last year, which saw the onset of the Covid-19 pandemic.
The retailer on Wednesday posted a net loss of $50.87 million, compared with a loss of $302.3 million a year earlier. It reported a loss of 48 cents a share, compared with a loss of $2.44 a share.
For the quarter ended May 29, net sales rose to $1.95 billion from $1.31 billion, the company said. Analysts polled by FactSet had been expecting sales of $1.87 billion.
Comparable sales rose 86%, the company said.