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BedBath & Beyond Inc. (BBBY) has reported a 38.60 percent plunge in profit for the quarter ended May 27, 2017. The company has earned $75.28 million, or $0.53 a share in the quarter, compared with $122.62 million, or $0.80 a share for the same period last year. Revenue during the quarter went up marginally by 0.15 percent to $2,742.14 million from $2,738.08 million in the previous year period. Gross margin for the quarter contracted 91 basis points over the previous year period to 36.47 percent. Total expenses were 94.64 percent of quarterly revenues, up from 92.22 percent for the same period last year. That has resulted in a contraction of 242 basis points in operating margin to 5.36 percent.
Operating income for the quarter was $147.01 million, compared with $213.03 million in the previous year period.
Operating cash flow falls marginally BedBath & Beyond Inc. has generated cash of $204.63 million from operating activities during the quarter, down 2.17 percent or $ 4.53 million, when compared with the last year period. The company has spent $85.10 million cash to meet investing activities during the quarter as against cash outgo of $25.71 million in the last year period.
The company has spent $135.32 million cash to carry out financing activities during the quarter as against cash outgo of $158.88 million in the last year period.
Cash and cash equivalents stood at $469.32 million as on May 27, 2017, down 13.77 percent or $74.95 million from $544.27 million on May 28, 2016.
Debt remains almost stable
Total debt of BedBath & Beyond Inc. remained almost stable for the quarter at $1,491.72 million, when compared with the last year period. Long-term debt of Bed Bath & Beyond remained almost stable for the quarter at $1,491.72 million, when compared with the last year period. Interest coverage ratio deteriorated to 8.87 for the quarter from 13.06 for the same period last year.
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