Bed Bath & Beyond Inc. changes corporate name again, relocates headquarters

Insight summary

• •Bed Bath & Beyond Inc. will change its corporate name to Neighborhood Intelligence and begin trading on Nasdaq under NXH on August 17.
• •The company will relocate its headquarters from Murray, Utah to Nashville, Tennessee.
• •The turnaround strategy focuses on omnichannel retail, digital and blockchain services, and an AI-powered home operating system.
• •CEO Marcus Lemonis aims to expand beyond retail into home services for higher margins.
• •Q2 revenue rose 28% year-over-year to $361 million, marking two consecutive quarters of growth.
• •Active customers rose 47% to 6.4 million, but net loss widened to $39 million from $19 million.
• •Q3 revenue is forecasted between $505 million and $525 million with margins around 30%.