Bed Bath & Beyond Investor Day Presentation Deck
Non-GAAP Information
This presentation contains certain non-GAAP information, including Adjusted SG&A and Free Cash Flow. Free Cash Flow is defined as operating cash flow less capital
expenditures. Non-GAAP information is intended to provide visibility into the Company's core operations and excludes special items, including non-cash impairment
charges related to certain store-level assets and tradenames, loss on sale of businesses, loss on the extinguishment of debt, charges recorded in connection with the
restructuring and transformation initiatives, which includes accelerated markdowns and inventory reserves related to the planned assortment transition to Owned
Brands and costs associated with store closures related to the Company's fleet optimization and the income tax impact of these items. The Company's definition and
calculation of non-GAAP measures may differ from that of other companies. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for,
the Company's reported GAAP financial results. The Company is not providing a reconciliation of its forward looking quarter ended August 27, 2022 non-GAAP
preliminary expected results or its fiscal year 2022 guidance with respect to Adjusted SG&A and Free Cash Flow because it does not currently have sufficient information
to accurately estimate all of the variables and individual adjustments for such reconciliation. As such, the Company cannot estimate on a forward-looking basis without
unreasonable effort the impact these variables and individual adjustments will have on its reported results.
BED BATH & BEYOND
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