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BBBY Narrows Quarterly Loss
Description
Bed Bath & Beyond narrowed its Q1 loss and returned to revenue growth for the first time in 19 quarters, reporting an adjusted loss of 25 cents per share on $247.8M in revenue. CEO Marcus Lemonis said customer acquisition and average order values improved. The company operates at its lowest cost structure in 12+ years and expects $60M in cost savings over the next nine months. Shares rose 28% after hours.
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