A：Bed Bath and Beyond plans to achieve its revenue and profitability goals through a combination of structural margin improvements, better vendor negotiations, improved product mix, tighter inventory controls, and a more efficient operating structure. The company emphasizes that its margin performance is structural and not cyclical and expects to see these improvements as omnichannel scale increases and ecosystem synergies compound.

A：Bed Bath and Beyond is seeing low to mid-single-digit year-over-year increases in revenue growth early in 2025 and is targeting low to mid-single-digit revenue growth for the full year 2026 based on current trends.

A：The expected quarterly revenue growth pattern in 2026 includes year-over-year revenue growth and EBITDA improvement of at least 50% in the first quarter. This reflects the state of the business and continued cost discipline. In the second quarter, the impact of the Kirklands transaction will begin to flow through the financials, and positive top line growth and improved operating leverage are expected, aiming for breakeven by the fourth quarter.

A：The three pillars of the company's ecosystem architecture are: 1) the omnichannel business which includes brands like Bed Bath & Beyond, Overstock, and Kirkland's; 2) the protection, advocacy, brokerage, and financial solutions pillar which includes various insurance services, title services, renovation financing, and a credit union partnership; and 3) the home services installation and maintenance infrastructure.

A：The differentiator of the installation labor model is the creation of a professional labor network which allows for higher transaction values, stronger customer attachment rates, greater customer stickiness, and ongoing maintenance engagement.

A：The home operating system uses blockchain technology to create durable records around both the homeowner and the home itself, integrating these separate businesses into an ecosystem.

A：A key priority for 2026 is the accelerated implementation of modern technology across the enterprise, including AI, to increase conversion, improve inventory productivity, optimize pricing, enhance marketing efficiency, and reduce operating costs.

A：Revenue declined 10% year over year in the fourth quarter and 6% if you exclude the impact of discontinuing operations in Canada. The gross margin landed at 24.6% for the quarter, a 10 basis point improvement compared to the same period last year. For the full year, gross margin improved by 390 basis points to 24.7%, and Adjusted EBITDA was a loss of $4 million, an improvement of 23 million compared to the fourth quarter of 2024. Full year diluted EPS had a loss of 30 cents per share, an improvement of 82% year over year.

A：The performance in 2025 was driven by a focus on core retail operations, reduction in expenses, and an improvement in the efficiency of sales and marketing and G&A expenses. Full year Adjusted EBITDA was $150 million, exceeding the commitment to achieve an annual run rate. The company ended the quarter with a balance of $207 million in cash, cash equivalents, restricted cash, and inventory.

A：Core growth drivers for 2026 include AOV (average order value) and conversion. The focus will be on continuous improvement and creating a more variable cost structure while driving top-line growth.

A：The company's current plan does not assume a housing recovery but is positioned to benefit from normalization of housing market conditions, such as moderate mortgage rates and historical transaction volumes. The company expects potential overtime to generate substantial mid single to high single-digit EBITDA margins based on disciplined execution and a normal housing environment.

A：The company believes that the trough in the active customer base is behind them, and they expect future growth in revenue, EBITDA, and the number of active customers.

A：The strategy for growing profitability and expanding margins involves acquiring businesses, such as those in Pillar 3, and absorbing them into the company to achieve a consolidated margin. This includes taking out merger synergies and lowering taxes to align EBITDA with expectations. The acquisition of a $400 million foundation base of businesses with minimal cost of goods and significant margin potential is expected to contribute to a consolidated margin expansion above and beyond 30% over the next 36 months.

A：The company will operate each business pillar individually with their own leaders and subject matter experts, rather than trying to manage them with a generalized approach. Financial and treasury consolidation will exist from a financial standpoint to reduce redundant back office costs, and from a data consolidation standpoint to ensure each business contributes data in a manner that benefits the overall ecosystem. This data will be fed into a third-party operated data fabric.

A：The approach to measuring the success of the ad pilot with instant checkout involves working with outside third parties, like Alvarez, to conduct a full study and ensure the program captures every bit of information. It's too early to measure success, but there's recognition that significant improvements are needed over the next 12 to 24 months to meet the necessary standards.

A：Upon the potential acquisition in Pillar 2, it is expected to provide instant integration, allowing for the offering of services like insurance and home warranties through a one platform approach. The envisioned strategy is a two-funnel approach: one using customer engagement from pillars 1 and 3 to offer services in pillar 2, which will decline quickly but improve over time, and another providing instant integration with brokerage services on the day of acquisition. The acquisition is expected to have early success with some services, prompting investment in technology to supercharge those offerings.

A：The plan for the real estate brokerage network involves using the existing sales agents, who are commission-based, to sell not only their licensed products but also additional products and services in the eco-system for compliant commissions. This approach is expected to result in a large, motivated sales force that can provide customers with necessary products. It is anticipated that within 12 months of the acquisition, the sales force will be operating at full capacity, seeking traditional attachments for customers.

A：The revenue growth forecast of low to mid single digits for 2026 is exclusive of the acquisition of Kirkland. However, it is mentioned that Kirkland will have similar growth at the same time, and when the acquisition closes in Q2, a forecast for the full year will be provided. The base business growth forecast for 2026 is closer to mid single digits, with an expectation to reach the 25% profitability milestone by the end of 2026, pending no significant disruptions like those caused by tariffs or other global events.

A：The company plans to provide detailed disclosures and shareholder letters to ensure that shareholders understand the financial impact of acquisitions, including how the integration of one entity into another will result in a stronger整体 (i.e., how 'one plus one equals two'). They aim to show a clear financial picture from the moment they 'get the keys' to the acquired company, which could happen within 90 to 120 days post-acquisition, or longer in cases of lease exits or distribution center consolidations.

A：The company intends to lay out a detailed plan showing the projected financial impact of acquisitions to shareholders, including a pro forma financial outlook and a 2-3 year financial forecast. They will present this information to demonstrate the expected benefits and cost structures post-acquisition.

A：The approach to deciding between working with a strategic partner or owning and operating assets depends on regulatory complexity and balance sheet risk. The company prefers not to take on balance sheet risk related to claims, reserves, insurance, or financing. Instead, they focus on origination and expect to profit from brokerage services, licensing transactions, and other asset sales. They aim to be an insurance agency, warranty provider, or financier without the need for inventory, capital, or reserve requirements.

A：The home operating system is a concept that encompasses a connected home environment, but with a focus on more than just connecting devices like lights and home entertainment systems. It includes a 'real estate ledger,' or blockchain, that captures important documents related to the home, such as title, deeds, surveys, insurance, and maintenance records. This system is believed to provide integrity for insurance, buying and selling processes, and overall asset management. It's envisioned to be accessible through an app or home touchscreen and to facilitate a seamless user experience with features like home automation.

A：Revenue growth is currently in the low to mid single digits, having turned positive from a year-over-year decline of 6% in the fourth quarter. The company's goal is to continue pushing towards mid single-digit growth and potentially exceed that. Specific factors driving this improvement are not detailed in the provided text.

A：The company has improved its assortment online, worked on pricing, enhanced marketing to encourage repeat purchases, and invested in new marketing technologies such as chat and SMS. The Omni channel launch is aimed at increasing general awareness.

A：The company is not pleased with low to mid single-digit growth because it wants to be conservative, outperform the market, build its cash flow, and maintain realistic expectations by meeting or exceeding them.

A：The company expects a 3 to 5% revenue improvement in Q1 and aims for a 30% improvement in EBITDA margin year over year from Q1 of the previous year. They expect margins to trend around the current levels into Q3 and Q4.

A：The company expects EBITDA improvement in Q2 despite some pressure on margins, projecting a stabilization around 24% to 25% in Q3 and Q4. They anticipate revenue growth to stabilize around 5% to 6% and hope to achieve margins around 25% in the latter part of the year.

A：The company's goal is to achieve revenue growth of around 5% to 6%, stabilize margins around 25%, and make a stretch goal to make some money in Q3. For Q4, they are excited about the potential to reach an EBITDA of zero or above.

A：The company is building, growing, adding customers, generating revenue, making acquisitions, and is now in a positive growth mode rather than focusing on cutting expenses, which is a departure from when the company was in a state of crisis.