Revenue of Bed Bath & Beyond Surpass Estimates
Discount offers along with promotions worked well for Bed Bath & Beyond Inc. the retailer which deals with home furnishings. The company announced better-than-expected revenue for this quarter as it could attract a larger number of customers to its stores.
The shares of the company dealing with house wares and bathroom provisions increased by almost seven percent in extended trading. The retailer also forecast a full year more-than-expected profit.
The sluggish growth of the U. S economy have left consumers looking for better deals and the retailers are grabbing the opportunity with promotional offers and reduced prices.
To make its presence felt online Bed Bath & Beyond has invested quite a bit. It has also spent for coupons to increase sales in the middle to tight competition from other online retailers selling similar product range at a cheaper price.
The net sales figure of the company increased to $2.94 billion for the second quarter which ended on August 30. Last year for the same period it was $2.82 billion. Same-store sales for the company increased approximately by
3.4 percent in the quarter.
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Oshidori International exits Japanese casino race, citing serious ethical irregularities
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain
- TenneT adds more electric BMWs to study use of EVs to support power grids