Mobile orders double for the year at Bed Bath & Beyond
April 10, 2015 10:53 AM
Orders placed through Bed Bath & Beyond’s mobile site doubled in fiscal 2014, according to CEO Steven Temares.
While the home furnishings retailer, No. 221 in the Internet Retailer 2014 Top 500 Guide, does not break out online sales, Temares told analysts on Wednesday that e-commerce sales grew more than 40% year over year in fiscal 2014. Temares said the company is focusing on enhancing and upgrading its mobile capabilities to further that growth.
“For mobile users, we have enhanced the image-viewing features to allow customers to pinch and zoom on a product detail page and provide alternate images of a specific product,” he said, according to a transcript of the call obtained from Seeking Alpha.
The retailer recently added augmented reality technology to its mobile app designed to make it easier for customers who are registering for weddings to see a product in various colors and get a 360-degree view of it.
With a growing number of products offered online, including a new line of brand-name mattresses, Temares told analysts the retailer is planning to improve its fulfillment capabilities by opening a new distribution center in Las Vegas later this year.
“As an omnichannel retailer, we believe in and are committed to making the necessary investments to keep pace with the rapid advancements in technology that are shaping the retail landscape and driving consumer behavior and expectations,” he said.
For the 2014 fiscal year ending Feb.28, Bed Bath & Beyond reported:
- Net sales of $11.881 billion, up 3.2% from $11.504 billion in fiscal 2013.
- Comparable sales, which include sales completed online and in the retailer’s physical locations, up 2.4%, flat from a 2.4% increase last year.
- Net earnings of $957.5 million, down 6.3% from $1.022 billion during the same period last year.
For the fourth quarter ending Feb. 28, Bed Bath & Beyond reported:
- Net sales of $3.337 billion, up 4.2% from $3.203 billion during the same period last year.
- Comparable sales up 3.7% compared to an increase of 1.7% during the same period last year.
- Net earnings of $321.1 million, down 3.7% from $333.3 million last year.