Shopping priorities have been scrambled by COVID-19 containment measures in recent weeks, but themes are starting to emerge as everyone adjusts to more time spent at home. On Wednesday, specialty retailer Bed Bath & Beyond (NASDAQ:BBBY) revealed that digital sales have nearly doubled since it temporarily closed most of its stores on April 2.
In a conference call with investors, the chain noted a few standout product categories on its website. Bread machine sales are up 400% in recent weeks, for example, and vacuum sales have doubled.
The company also reported selling the equivalent of 10 million cups of coffee across its pod and ground coffee bean supplies. Americans are purchasing far more humidifiers and air purifies these days, too. "Making it easy to feel at home means different things to different people," CEO Mark Tritton said in the call.
Bed Bath & Beyond still noted significant strain on the business since the temporary closure of its in-person selling network, with overall sales down 42% in the last few weeks. Executives have responded by slashing costs and moving to preserve capital, a strategy that has given the company over $1.4 billion of cash savings as of the start of aggressive social distancing efforts in late March.