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Financial, Retail

BBB Reports Second Quarter Net Revenue Increase, Parent Company to be Renamed

Bed Bath & Beyond reports second quarter net revenue of $361 million, an increase of 28 percent year-over-year, and its second consecutive quarter of revenue growth, with parent company announcing it will rebrand to Neighborhood Intelligence, with a new listing on Nasdaq under the ticker NXH.

8/6/2026
NASHVILLE, Tenn. -- Bed Bath & Beyond, Inc. (NYSE:BBBY), owner of Bed Bath & Beyond, Overstock, buybuy BABY, the Kirkland’s and Kirkland's Home brands, and more recently The Container Store, Elfa, Closet Works, and SFV Services, as well as a blockchain asset portfolio, today reported financial results for the second quarter ended June 30, 2026. Company also announces plans to rebrand to Neighborhood Intelligence, with a new listing on Nasdaq under the ticker NXH.

Second Quarter 2026 Highlights

Net revenue was $361 million, an increase of 28.0% year-over-year, marking the Company’s second consecutive quarter of year-over-year revenue growth following nineteen quarters of decline. Growth reflects continued strength in the Company’s base online marketplace business, improved assortment, the realization of investments in the customer experience, and the inclusion of The Brand House Collective (owner of the Kirkland’s and Kirkland’s Home brands), which was acquired during the quarter.

Active customers increased to 6.4 million, up 47% year-over-year, and orders delivered increased to 2.8 million, up 117% year-over-year, reflecting growth in the base business and the inclusion of acquired brands. Orders per active customer increased to 1.79 from 1.32 in the prior year period, an increase of 36%.

Gross profit was $97 million, or 26.8% of net revenue.

Sales & Marketing expense was $43 million, or 11.9% of net revenue, an improvement of 160 basis points year-over-year.

Technology and general and administrative expense was $82 million compared to $37 million in the prior year period, reflecting the expansion of the Company's physical retail footprint, including store labor, occupancy, distribution, and other operating costs associated with The Brand House Collective.

Net loss was $39 million, compared to a net loss of $19 million in the prior year period. The current period includes $21 million of special items, primarily acquisition-related costs, restructuring costs, and non-cash store-closure impairments.

Adjusted EBITDA (non-GAAP) was ($12) million, compared to ($8) million in the prior year period.

Cash, cash equivalents, and restricted cash totaled $126 million at quarter end.

Strategic Progress

“Our second quarter results show that the transformation of this business is taking hold,” said Marcus Lemonis, executive chairman and chief executive officer. “After eight quarters of meaningful operating improvement, we have now delivered two consecutive quarters of revenue growth following nineteen quarters in the other direction. Two quarters is not a victory and we have no intention of treating it as one, but it is strong support that the direction of this business has changed. We are growing revenue and active customers while continuing to take cost out of the business and operate more efficiently, and that combination matters.”

“Our omnichannel retail brands remain the front door to the customer,” Lemonis continued. “We are seeing better engagement, stronger conversion, and more frequent orders per customer, which we believe tells us the customer is responding to the investments we have made.”

During and following the quarter, the Company continued to assemble the capabilities that support its strategy. The acquisition of The Brand House Collective closed during the quarter, and the acquisition of The Container Store, Elfa, and Closet Works closed on July 8, 2026. The Company also announced definitive agreements to acquire Fathom Holdings Inc. (a real estate technology platform) and F9 Brands Inc. (a portfolio of companies in the building products, home improvement and luxury home décor industries) in June and July 2026, respectively. As signed transactions close and fold into the Company’s results, the Company expects continued revenue growth in its base online marketplace business, together with growth in total revenue and active customer count, over the coming quarters.

“We are acquiring capabilities and active customers while eliminating infrastructure we no longer need,” Lemonis continued. “As revenue ramps, we believe that over the next twelve months we can remove more than fifty million dollars of annualized cost by bringing our businesses together onto one platform, eliminating non-performing assets, consolidating disciplines and shared resources, improving the cost of our supply chain infrastructure, and eliminating or consolidating duplicative third-party services, software agreements, and locations. We would not call it cost cutting; we would call it finishing the merger.”

Corporate Transformation to Neighborhood Intelligence

In a shareholder letter issued today and available at https://investors.beyond.com, the Company announced that its parent company is becoming Neighborhood Intelligence, that it will begin trading on Nasdaq under the ticker NXH, with its last day of trading on the NYSE on August 14, 2026 and its first day of trading on Nasdaq on August 17, 2026, and that it will relocate its corporate headquarters to Nashville, Tennessee. The letter describes the Company’s organization around three interconnected pillars: Omni-Channel Retail, which helps customers create a home they love; Home Services, which helps them improve, maintain, and protect it; and Home Ownership, which brings together the financial, transactional, and advisory capabilities that support one of life’s most important investments. Together, the pillars are designed to create an ecosystem that serves customers before they purchase a home, while they own it, as they improve it, and when they ultimately decide to sell or transfer it, in support of a single mandate: to make homeownership simpler and more affordable while creating long-term value for shareholders.

The Company’s consumer brands remain at the center of its customer relationships. Neighborhood Intelligence is the intelligence layer that connects them, making each brand smarter, more connected, and more valuable while preserving the unique identity and trust customers already know. The letter also describes the Company’s proprietary agent, Norm™, which the Company is actively building today, with its first customer-facing version planned for later this year.
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