Overstock Q2 revenue falls 20% YoY to $422M; net loss $73M; Bed Bath & Beyond brand acquired

BED BATH & BEYOND, INC.

2023-Q2 EPS reported -$1.86 revenue$803,351,000

Total net revenue $422M, down 20% year-over-year; gross profit $94M (22.4% margin).
Net loss $73M; diluted EPS -$1.63; adjusted diluted EPS -$0.02; adjusted EBITDA $8M (2.0% of revenue).
Active customers 4.6M (-29% YoY); orders delivered 1.8M (-16% YoY); average order value $234 (-5% YoY).
Completed acquisition of Bed Bath & Beyond brand and IP; US rebranding launch targeted for early August.
Cash and equivalents $343M; strong balance sheet with over $300M net cash.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BED BATH & BEYOND, INC. reported the quarter ended June 30, 2023 results: revenue $422 million, net income Net loss of $73 million, EPS Diluted net loss per share of $1.63.

Period: the quarter ended June 30, 2023
Revenue: $422 million
Net income: Net loss of $73 million
EPS: Diluted net loss per share of $1.63
Result: reported results

Exact text from the filing

Overstock.com, Inc. (NASDAQ:OSTK) today reported financial results for the quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights • Total net revenue was $422 million, a decrease of 20% year-over-year • Gross profit of $94 million, or 22.4% of total net revenue • Operating loss of $4 million • Net loss of $73 million • Diluted net loss per share of $1.63; Adjusted diluted net loss per share (non-GAAP) of $0.02

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BED BATH & BEYOND, INC. filing history →

Source: SEC EDGAR

accession 0001130713-23-000051

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