At the end of 1Q17, Bed Bath & Beyond (BBBY) operated 1,546 stores, which comprised 1,022 under the Bed Bath & Beyond name, 276 stores under the Cost Plus World Market name, 80 Christmas Tree Shops, 113 Buy Buy Baby stores, and 55 Harmon stores. BBBY is also a partner in a joint venture that operates eight stores in Mexico under the Bed Bath & Beyond brand.
In 1Q17, Bed Bath & Beyond (BBBY) posted revenue of $2.743 billion, which represents a growth of 0.1% from the $2.738 billion it reported in 1Q16. Analysts were expecting the company’s revenue to be $2.79 billion.
BBBY’s revenue growth was driven by the addition of 13 net stores in the last 12 months. In 1Q17 alone, the company opened one Harmon store and closed one Bed Bath & Beyond store. The acquisition of online home furnishings retailer One Kings Lane in August 2016, and online retailer PersonalizationMall.com in November 2016 drove BBBY’s 1Q17 revenue. However, the majority of its revenue growth was offset by negative SSSG (same-store sales growth) of 2.1%. The decline in traffic was blamed for the negative SSSG. At the store level, SSSG fell by mid-single digits. Some of the decline was offset by 20% growth in customer-facing digital channels.