Please ensure Javascript is enabled for purposes of website accessibility

Bed Bath & Beyond Sold the Equivalent of 10 Million Cups of Coffee This Month

By Demitri Kalogeropoulos - Apr 16, 2020 at 9:14AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Other hit product categories include vacuum cleaners and bread machines.

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 (BBBY 7.35%) 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.

A woman shops through her smatphone.

Image source: Getty Images.

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.

Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Bed Bath & Beyond Inc. Stock Quote
Bed Bath & Beyond Inc.
BBBY
$10.51 (7.35%) $0.72

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
373%
 
S&P 500 Returns
122%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/10/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.