Please ensure Javascript is enabled for purposes of website accessibility

Bed Bath & Beyond Ends Some Furloughs as Online Sales Jump 85%

By Demitri Kalogeropoulos – Apr 27, 2020 at 4:42PM

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

The retailer is taking advantage of the demand shift towards e-commerce.

Demand is improving in parts of Bed Bath & Beyond's (BBBY 2.12%) business. The specialist retailer said over the weekend that it has had to convert many of its stores into fulfillment centers to satisfy a sharp demand spike from its online sales channel. In fact, e-commerce revenue is up 85% in April.

The boost doesn't nearly offset lost revenue from its temporary store closures, which the company just extended until at least May 16 from the prior forecast of May 2. However, it has allowed the company to bring back hundreds of furloughed associates.

A woman orders products using her smartphone.

Image source: Getty Images.

Bed Bath & Beyond has doubled its online capacity in recent weeks and is planning to pad those capabilities even more by adding additional quick-fulfillment choices across its network. These options will remain even after the COVID-19 threat fades and social distancing efforts are lifted.

"We're prioritizing the health and safety of our people, customers and communities by extending the temporary closures of most of our stores," CEO Mark Tritton said in a press release. "As well as serving our loyal customers online in their homes," he continued, "we will also expand the number of locations where customers can buy online and pick up at store, or simply drive up and enjoy contactless, curbside pickup."

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.
$6.51 (2.12%) $0.14

*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
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/28/2022.

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.