Bed Bath & Beyond announced Tuesday it would start offering same-day delivery to meet growing demand during the pandemic. Bed Bath & Beyond and its subsidiary buybuy BABY will be teaming up with Shipt and Instacart to make this feature available in 48 states.
- There are currently 955 Bed Bath & Beyond and 155 buybuy BABY locations across the United States.
- Earlier this year, Bed Bath & Beyond introduced buy online, pickup in-store & contactless curbside pickup options to service customers who were hesitant to shop in-store due to the pandemic.
- Bed Bath & Beyond reported that its online sales increased by 82% for the quarter ending on May 30, with a greater than 100% increase in April and May.
- The company's share price is down almost 14% this year, and its market cap sits at $1.9b.
- Shipt's revenue increased by more than 350% YoY in Q2 as its order volume almost tripled. Target acquired Shipt in 2017 in a $550m deal.
- To be eligible for same-day delivery, a customer must spend at least $39, and they will be charged a delivery fee of $4.99.