MURRAY, Utah - April 27, 2026 - Bed Bath & Beyond, Inc. (NYSE:BBBY), owner of Bed Bath & Beyond, Overstock, buybuy BABY, and more recently, the Kirkland’s and Kirkland's Home brands, as well as a blockchain asset portfolio, reported financial results for the first quarter ended March 31, 2026.
First Quarter 2026 Highlights
First quarter net revenue was $248 million, representing an increase of 6.9% year-over-year. Net revenue excluding the impact from our exit from Canada (non-GAAP) increased 9.4% year-over-year.
Notably this was the first quarter of significant revenue growth in 19 quarters, signaling strong brand awareness among customers and improved assortment and realization of investments in customer experience.
Gross profit was $59 million, or 23.9% of net revenue.
Sales & Marketing expense was $32 million, or 13.0% of net revenue, a 50 basis point reduction year-over-
year.
Technology and general and administrative expense declined to $36 million compared to $41 million in the
prior year, a $5 million improvement year-over-year.
Net loss was $16 million, a $24 million improvement year-over-year. Adjusted EBITDA (non-GAAP) was ($8) million, a $5 million improvement year-over-year.
Cash, cash equivalents, and restricted cash totaled $163 million at quarter end.
Strategic Progress
“Our first quarter results show that the work we’ve been doing to stabilize and rebuild the business is taking hold,” said Marcus Lemonis, Executive Chairman and Chief Executive Officer. “We delivered real year- over-year revenue growth, something we haven’t seen meaningfully in several years, while continuing to take costs out of the business and operate more efficiently. That combination matters.
“Our omnichannel retail brands remain the front door to the customer,” Lemonis continued. “We’re seeing better engagement, stronger conversion and improvements in average order value, which tells us the customer is responding to the investment we’ve made.”
“Our product categories and home services initiatives are the engines that drive demand. When you connect that with our digital and financial capabilities, you start to build an ecosystem that keeps the customer engaged longer and increases lifetime value. Our improving results and strategic advancements, including our most recent announcement to acquire The Container Store, Elfa and Closet Works will position us well to deliver long-term shareholder value aligned to our Everything Home 3 pillar ecosystem.”