Jul. 17, 2014, 10:43 AM
- Bed Bath & Beyond (BBBY +0.6%) announces it closed on its $1.5B senior note offering. An extra $46M in interest expenses will be added for the fiscal year as a result of the new issuance.
- The company also disclosed that it entered an accelerated share repurchase agreement with Goldman Sachs to buy back $1.1B in stock.
Jul. 15, 2014, 3:38 PM
- The announcement by Bed Bath & Beyond (BBBY +1.5%) that it would float debt is a "seminal event" in the company's history after it went 20 years without issuing any bonds, according to UBS analyst Michael Lasser.
- Some analysts think the move was made to stake off activist investors or a hostile takeover.
Jul. 15, 2014, 8:41 AM
- A decline in sales at furniture stores and home furnishing outlets (PIR, BBBY, LZB, ETH, RH, HVT, KIRK, WSM) dragged down retail sales during the month of June.
- The building material and garden equipment category (HD, LOW) was also weak.
- Perhaps a surprise, but sales at clothing stores outpaced other businesses during the month.
Jul. 14, 2014, 11:07 AM
Jul. 9, 2014, 9:09 AM
- Shares of Bed Bath & Beyond (BBBY), Pier 1 Imports (PIR), and Williams-Sonoma (WSM) are on watch after The Container Store (TCS) CEO Kip Tindell paints an ugly picture for specialty retail.
- Tindell on retail: "...consumers seem to be buying homes and automobiles and even high ticket furniture which has kind of been in the doldrums since the great recession. But most segments of retail are a little like us, seeing more challenging sales certainly than we had hoped for early in 2014."
- The Container Store earnings call transcript
- TCS -16.1% premarket
Jul. 7, 2014, 8:46 AM
Jul. 7, 2014, 8:24 AM
Jul. 3, 2014, 10:24 AM
Jun. 26, 2014, 12:46 PM
- Bed Bath & Beyond (BBBY -8.5%) hits a fresh 52-week low in heavy volume after Q1 results and Q2 guidance missed analyst estimates; Q1 comp sales grew 0.4% vs. 3.4% in the year-ago quarter, and Q2 same store sales are seen growing 1%-3%.
- In the company's earnings conference call, management said it was "cautiously optimistic about the balance of the fiscal year."
- Morgan Stanley cuts its price target to $58 from $63, saying BBBY remains unattractive given margin pressures and slippage as it executes its omni-channel strategy; Canaccord sees no clear near-term catalyst in place to drive a recovery, and visibility into how long the current level of operational investments will continue remains limited (Briefing.com).
- Argus Research is a lone voice of optimism, believing the 2012 acquisition of Cost Plus could help drive store traffic with unique merchandise.
Jun. 26, 2014, 12:45 PM
Jun. 26, 2014, 9:17 AM
Jun. 25, 2014, 5:42 PM
Jun. 25, 2014, 4:35 PM
- Bed Bath & Beyond (BBBY) expects FQ2 EPS of $1.08-$1.16, below a $1.20 consensus. FY14 guidance for mid-single digit % EPS growth is being reiterated.
- Comparable store sales rose just 0.4% Y/Y in FQ1 vs. 1.7% in FQ4 and 1.3% in FQ3.
- Gross margin fell to 38.8% from 40.4% in FQ4 and 39.5% a year ago. SG&A spend rose 3% Y/Y to $730.2M.
- $273M was spent to buy back 4.2M shares.
- FQ1 results, PR
Jun. 25, 2014, 4:17 PM
Jun. 24, 2014, 5:35 PM
Jun. 11, 2014, 9:34 AM
- ICSC forecasts comparable-store sales for retail chains will increase by 3.5% Y/Y in June.
- The pace is slightly less than the snap-back from a slow Q1 that some analysts forecast.
- The read on June from the research firm is that wholesale clubs (WMT, COST, PSMT) and furniture stores (PIR, BBBY, LZB, ETH, RH, HVT, KIRK, WSM) showed "outstanding strength" for the first full week of the month.
- Related ETFs: IYK, UGE, SZK
BBBY vs. ETF Alternatives
Bed Bath & Beyond Inc operates a chain of retail stores. It operates under the names Bed Bath & Beyond, Christmas Tree Shops, Harmon and Harmon Face Values, buybuy BABY & World Market or Cost Plus World Market.
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