Notable Hit: (BBBY:NASDAQ) On Thursday January 6, 2022 Bed Bath & Beyond Inc. (BBBY) posted worse-than-expected revenues of $1.88bn missing the consensus estimate of $1.97bn or by -4.57% and in the same direction as Advan's forecasted sales. The revenue was down 28% YoY - Advan's foot traffic data captured a decrease in foot traffic of -15% YoY at its stores for fiscal Q3 2021. Advan's footfall data has a correlation of 0.87 on a YoY basis with BBBY's top-line revenue over the last 12 quarters.
Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.
Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.