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Bed Bath & Beyond Q2 profit misses Street
Union, N.J. -- Bed Bath & Beyond Inc. reported Thursday that net income for the quarter ended Aug. 25 dipped 2.2% to $224.3 million, from $229.4 million in the same period last year. Results, negatively impacted by aggressive coupon discounting, trailed Wall Street’s expectations.
Sales increased 12.1% to $2.593 billion, and same-store sales climbed 3.5%, compared with an increase of 5.6% last year.
The retailer acquired Cost Plus in July for $495 million, adding 259 stores and a new e-commerce platform. -
The Pantry names SVP operations
CARY, N.C. — The Pantry, an independently operated convenience store chain in the southeastern United States, announced that Joe Venezia is joining the executive leadership team as SVP operations.
Venezia joins The Pantry from TitleMax. In his new role at The Pantry, he will lead the company’s store operations and be focused on driving sales, improving store productivity, and leading a great store operations team.