Neighborhood Intelligence, parent of Bed Bath & Beyond, saw its sales nearly double in the third quarter, driven by major acquisitions.

Net revenue for the quarter ended September 30 soared 98 per cent to $509 million, with $229 million attributable to acquired businesses, including Kirkland’s and The Container Store. The remaining increase was driven by the core e-commerce business and an improved assortment. 

E-commerce revenue increased approximately 9 per cent, led by a 75 per cent growth at Overstock.com. 

Active customers jumped 117 per cent to 9 million, and orders delivered increased 217 per cent to 4 million, reflecting growth in the base business and the inclusion of acquired brands.  

Meanwhile, net loss widened from $5 million a year ago to $26 million, driven by acquisition-related costs, restructuring costs, and store-closure impairments. 

“While our baseline for 2027 is deliberately measured and assumes a continued depressed housing market, we are moving quickly to prepare for a more robust return to normalized housing activity,” said Marcus Lemonis, executive chairman and CEO of Neighborhood Intelligence. 

“Our decision to accelerate the integration of our acquisitions, recalibrate inventory and simplify our operating structure reflects that conviction. 

“We believe we can compound growth without a housing recovery, but even a modest improvement in housing activity could create meaningful upside and operating leverage,” Lemonis added.

Management expects approximately 5 per cent annual organic revenue growth from its 2027 base over the following three to four years, without requiring a housing recovery.