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  "presentationDate": "2021-04-01 00:00:00",
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  "notes": "Includes footnotes regarding non-GAAP measures and banner definitions.",
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      "text": "Comparable Sales increase 4% in total enterprise; +6% in Bed Bath & Beyond (BBB) banner. Digital drives Q4 performance, with strong total enterprise growth +86%; +99% in BBB. Net sales change of -16% as expected, due to significant portfolio transformation.",
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      "text": "SG&A expenses decreased $190mn, driven primarily by reductions from the non-core banner divestitures, lower occupancy expense on a smaller base of stores and lower marketing expense. Adj. EBITDA increased 13%, to $168mn, primarily due to SG&A cost leverage/expense reductions.",
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      "text": "Adj. Gross Margin of 32.8%, driven primarily by: Optimization of promotion & markdowns, Favorable product mix, Leverage of distribution and fulfillment costs, Partially offset by higher digital channel mix, including substantial industry-wide freight rate increases.",
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      "text": "Note: Adj. EBITDA, and adj. gross margin are non-GAAP financial measures. For a reconciliation to comparable GAAP measures, see Appendix of this presentation. (1) Bed Bath & Beyond is among the Company's four core banners which also include buybuy BABY, Harmon Face Values and Decorist.",
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