Bed Bath & Beyond Inc. provided preliminary earnings guidance for the three months ended November 26, 2022. For the third quarter of fiscal 2022, the company expected to report net sales of approximately $1.259 billion compared to $1.878 billion in the year ago period, reflecting lower customer traffic and reduced levels of inventory availability, among other factors. The company anticipates a net loss of approximately $385.8 million for the third quarter of fiscal 2022, including impairment charges of approximately $100.0 million, compared to a net loss of $276.4 million in the year ago period.

These results, including any impairment charges, are subject to further review and potential adjustment.