Bed Bath & Beyond Inc. (NYSE: BBBY) reported net revenue of $248 million for the first quarter ended March 31, 2026, representing a 6.9% increase year-over-year, according to a press release statement. Excluding the impact from the company's exit from Canada, revenue increased 9.4% year-over-year.

The company posted a net loss of $16 million for the quarter, an improvement of $24 million compared to the same period last year when it reported a $40 million loss. Adjusted EBITDA was negative $8 million, representing a $5 million improvement year-over-year.

Gross profit was $59 million, or 23.9% of net revenue. Sales and marketing expenses decreased to $32 million, representing 13% of net revenue, a 50 basis point reduction from the prior year. Technology and general administrative expenses declined by $5 million to $36 million compared to the previous year.

The company ended the quarter with $163 million in cash, cash equivalents, and restricted cash. Active customers totaled 3,951 thousand, down from 4,779 thousand in the prior year period. Average order value increased to $205 from $194 in the same quarter last year.

"We delivered real year-over-year revenue growth, something we haven't seen meaningfully in several years, while continuing to take costs out of the business and operate more efficiently," said Marcus Lemonis, Executive Chairman and Chief Executive Officer.

The company announced plans to acquire The Container Store, Elfa and Closet Works as part of its "Everything Home 3 pillar ecosystem" strategy. Bed Bath & Beyond owns retail brands including Overstock, buybuy BABY, Kirkland's and Kirkland's Home, as well as a blockchain asset portfolio.