Bed Bath & Beyond swung to a surprise fourth-quarter loss amid supply chain bottlenecks that led to inventory challenges during the crucial holiday period.
Bed Bath & Beyond delivered a disappointing third quarter, pressured by a lack of replenishment inventory due to supply chain bottlenecks that cost it about $100 million.
Bed Bath & Beyond will invest $1 billion to $1.5 billion in its business as part of a new three-year strategy to accelerate its omnichannel transformation and drive sales, margin and cash flow growth.
Bed Bath & Beyond continues to expand its fulfilment capabilities and omnichannel offerings to support increased demand across its digital channels and is also making plans to gradually reopen its stores.