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July 14, 2020, 6:31 a.m. EDT

Bed Bath and Beyond sees 'positive' same-store sales, cash flow in June

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By Tomi Kilgore

Shares of Bed Bath & Beyond Inc. /zigman2/quotes/209801102/composite BBBY +1.59% rose 1.1% in premarket trading Tuesday, after the home accessories retailer said June same-store sales were "positive" for reopened stores and digital channels. The company said cash flow during June were also positive. Nearly all stores have reopened, following closures because of the COVID-19 pandemic. Separately, the company said it believes there is between $350 million to $450 million it could get from asset sales and the plan to reduce up to $1 billion of inventory at retail is slightly more than halfway complete. The stock has run up 43.9% over the past three months through Monday, while the SPDR S&P Retail ETF /zigman2/quotes/206947004/composite XRT +0.79% has advanced 25.3% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.40% has gained 10.9%.

/zigman2/quotes/209801102/composite
US : U.S.: Nasdaq
$ 12.12
+0.19 +1.59%
Volume: 6.00M
Aug. 12, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$1.50 billion
Rev. per Employee
$191,341
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/zigman2/quotes/206947004/composite
US : U.S.: NYSE Arca
$ 51.06
+0.40 +0.79%
Volume: 2.82M
Aug. 12, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,380.35
+46.66 +1.40%
Volume: 2.25B
Aug. 12, 2020 5:10p
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