Jan 22, 2014 06:10 PM EST
Bed Bath & Beyond reported an 18 percent jump in second-quarter profit, as the U.S. housing market recovery spurred demand for consumer home products. The retailer leverages mobile in-store signage through SMS sign-ups. The SMS program features a mobile calls-to-action in its retail stores to attract consumers. Bed Bath & Beyond aims to add mobile touch points and promotional codes to encourage engagement between its stores and consumers.
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The company recently announced this trend continued in the third quarter of 2013, as it expects net earnings per diluted share (EPS) to be approximately $1.11 to $1.16, and net sales to increase by approximately 6 percent to 8 percent. Comparable store sales are forecasted to increase above average by approximately 1 percent to 3 percent. For Q4 2013, it expects comparable store sales as projected to increase by approximately 3.5 percent to 5.5 percent.
This fiscal year, Bed Bath & Beyond had several major initiatives, including a significant investment in enhancing the omnichannel experience for its customers. The company replaced both back end and customer facing systems for its “buybuy BABY” and “Bed Bath & Beyond” websites. There were also continuous upgrades to the mobile sites and apps and development of IT, analytics, marketing, and e-commerce omni-channel initiatives. The company also has been working to improve its online store presence through leveraging mobile devices and social media.
In addition to launching buybuy BABY website, in the second quarter Bed Bath & Beyond’s opened a new Christmas Tree Shop store, three buybuy BABY stores and one Harmon Face Values store. Since the beginning of Q3 2013 the company added one World Market store and two Bed Bath & Beyond stores.
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