• by Sarah Mahoney , Yesterday

Following the messy bankruptcy of Bed Bath & Beyond two years ago, it would have been easy to count the retailer out. But the company, which also owns Overstock, buybuy Baby and Kirkland's Home brands, and has acquisition of The Container Store pending, just posted first quarter sales of $248 million. That's an increase of 6.9% year-over-year, and the company's first significant revenue growth in 19 quarters.

The company credited strong brand awareness and improved assortment with the gains. Net loss for the Murray, Utah-based retailer fell to $16 million, a $24 million improvement year-over-year. "Our first quarter results show that the work we've been doing to stabilize and rebuild the business is taking hold," said Marcus Lemonis, CEO and executive chairman, in the announcement. "Our omnichannel retail brands remain the front door to the customer," Lemonis added. "We're seeing better engagement, stronger conversion and improvements in average order value, which tells us the customer is responding to the investment we've made."

In a letter to shareholders, he elaborated further on how he sees the company and its portfolio of brands evolving: "The home is not a single transaction," he wrote. "It is a lifecycle. On average, homeowners remain in their home for approximately 11 to 12 years. During that time, they move in, maintain the home, improve it, finance it, and eventually transition out of it. We are building a connected system designed to participate across that lifecycle in a more coordinated and efficient way."

Plans are emerging for how the pending $150 millionpurchase of The Container Store will fit into that home furnishing ecosystem. This week, the Container Store offered a first look at how the two brands will come together.  

The Container Store says it is undergoing a nationwide overhaul of its business, with 98 of its stores reconfiguring their selling floors, making way for the phased integration of Bed Bath & Beyond products. That includes massive clearance events, as it looks to liquidate 30% of select categories and SKUs, clearing the way for the combined in-store experience. The transition to the new The Container Store + Bed Bath & Beyond format is set to begin in May.