Bed Bath & Beyond Inc. (NYSE: BBBY) reported first-quarter revenue of $248 million, representing a 6.9% increase year-over-year and marking the first revenue growth in 19 quarters, according to a shareholder letter from CEO Marcus Lemonis.

The home goods retailer achieved the growth while operating at its lowest cost structure in over 12 years. Adjusted EBITDA improved by approximately $5 million year-over-year, marking the sixth consecutive quarter of improvement in that metric. Net loss decreased by approximately $24 million compared to the prior year period.

During the quarter, the company completed its acquisition of Kirkland's and announced pending acquisitions of The Container Store and F9 Brands. The company also added capabilities in installation, brokerage, mortgage and title services as part of its strategy to build an integrated home ecosystem.

Lemonis stated the company expects to remove more than $60 million in costs from the consolidated entity over the next nine months while integrating newly acquired capabilities. The CEO described the quarter as demonstrating early proof of the company's restructured operating model.

The company has scheduled a shareholder vote for May 14, 2026, though the letter did not specify the matters to be voted upon. Bed Bath & Beyond's strategy focuses on creating what it terms a connected system designed to serve customers across the homeowner lifecycle through retail, financial services and home services platforms.

Revenue growth excluding Canada operations was 9.4% year-over-year. The company reported improvements in customer acquisition efficiency, owned channel performance and average order value during the quarter.