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what it is
It sells home goods through Kirkland’s and licensed Bed Bath & Beyond-related brands, online and in stores.
how it gets paid
Last year Brand House made $441M in revenue. decorative accessories & wall decor was the main engine at $123M, or 28% of sales.
why growth slowed
Revenue fell 5.8% last year. 18.4% gross margin matters most because retail turnarounds fail when extra sales arrive with too little profit attached.
what just happened
TBHC posted $292M in quarterly revenue, but EPS fell to -$1.60 as profitability stayed broken.
At a glance
C balance sheet — red flag territory — real financial stress
10/100 earnings predictability — expect surprises
27.2% return on capital — every dollar works hard here
-$1.77 fy2024 eps est
$2B fy2025 rev est
xvary composite: 11/100 — weak
What they do
It sells home goods through Kirkland’s and licensed Bed Bath & Beyond-related brands, online and in stores.
The honest answer: the moat is the brand shelf, not the standalone business. You buy a candle, mirror, or throw pillow because the name feels familiar, and management now controls several familiar names while annual revenue still sits at $441 million. Earnings predictability scores a 10, which means results have been consistently trackable, so what: your edge here is brand recognition plus distribution, not some untouchable retail fortress.
How they make money
$441M
annual revenue · their business grew -5.8% last year
furniture
$97M
textiles
$75M
decorative accessories & wall decor
$123M
housewares & outdoor
$88M
seasonal, gifts & fragrance
$58M
The products that matter
sells home furnishings
Home decor & furnishings
$410M trailing revenue · 24.2% gross margin
it is the operating business, and 24.2% gross margin on $410M in trailing revenue tells you this is retail with limited pricing power, not a premium-margin franchise.
core business
licensed brand asset
Kirkland's Home IP
$10M sale in Q3 2025
the IP sale brought in $10M of cash in Q3 2025. that bought time for the balance sheet, but it was one-time cash, not a new earnings engine.
non-recurring
loyalty program obligation
K Card loyalty program
$1.6M deferred revenue
the program carried $1.6M in deferred revenue as of January 2026. in plain English: customers already paid for benefits the company still owes them.
small but real
Key numbers
$26.8M
deal value
This is the merger's implied equity value. Plain English: the buyout math matters more than the store math while the vote is pending.
$2B
FY2025 revenue est.
That estimate is more than 4.5x the $441 million annual revenue in SEC filings, so what: the market is pricing a much bigger combined story than the legacy retailer alone.
78%
debt capital
Long-term debt is 78% of capital. Translation: creditors have a thick cushion ahead of you.
3.2%
operating margin
Operating margin means profit after running the stores and corporate overhead. Plain English: the core business still loses money on every $100 of sales.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $78M (78% of capital)
C — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for TBHC right now.
source: institutional data · return history unavailable
What just happened
missed estimates
TBHC posted $292M in quarterly revenue, but EPS fell to -$1.60 as profitability stayed broken.
Sales exploded 156% vs. prior year, but gross margin was only 18.4%. Translation: bigger revenue did not fix the basic math.
$292M
revenue
$1.60
eps
18.4%
gross margin
the number that mattered
18.4% gross margin matters most because retail turnarounds fail when extra sales arrive with too little profit attached.
source: company earnings report, 2026
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What could go wrong
the #1 risk is the March 17 shareholder vote on the Bed Bath & Beyond merger.
med
merger vote fails
if shareholders reject the deal on March 17, the main strategic catalyst disappears in one day.
that leaves you with the same retailer, $78M in long-term debt, and negative trailing EPS. the stock stops being a transaction story and goes back to being a balance-sheet story.
med
debt pressure gets louder
long-term debt is $78M, equal to 78% of capital, while equity value is only about $22M.
when the debt stack is more than three times the market cap, even small operating misses can become financing problems fast.
med
core retail keeps shrinking
annual revenue declined 5.8%, and trailing revenue is down 7.1% from a year ago.
if sales keep sliding from the current $410M trailing base, the transaction has to do even more work because the standalone business is not stabilizing itself.
med
leadership handoff gets messy
the COO is set to leave effective March 20, 2026, just after the merger vote.
that timing adds one more execution problem to a company that already has little margin for drift.
if the vote fails, you are left underwriting a $22M equity stub against $78M of long-term debt and a business that lost $1.02 per share over the last 12 months.
source: institutional data · regulatory filings · risk analysis
Pay attention to
corporate
march 17 merger vote
this is the setup. approval keeps the transaction alive. rejection resets the story back to standalone survival.
operations
trailing revenue trend
trailing revenue is $410M, down 7.1% from a year ago. you want proof the core retail business has stopped sliding.
balance sheet
debt versus equity value
$78M of long-term debt against a $22M market cap is the simplest stress test on the page. if that gap widens, the equity gets even thinner.
post-vote path
what the company becomes next
if the deal closes, watch for the expected ticker change to BBBY2 and the first filings that show whether this is more than a rebrand with extra debt.
Analyst rankings
earnings predictability
10 / 100
in human-speak, analysts do not trust this income statement to behave consistently.
risk rank
5
a 5 rank means this sits in the riskier end of the market. you do not own it for steadiness.
source: institutional data
Institutional activity
institutional ownership data for TBHC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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