It’s too bad for anyone who cares about the fate of Bed Bath & Beyond’s employees, its suppliers and its long-time shareholders that the company’s financial managers got it terribly backwards.Īllan Sloan is a seven-time winner of the Loeb Award, business journalism’s highest honor. It would be more than $400 million less than its overall average cost of $44-plus for all the stock it’s bought since 2004.Ī company is supposed to operate by buying cheap and selling dear. If the company manages to net $9 a share for the 12 million shares that it says it wants to sell, that would be about $86 million less than the average price it paid to buy back stock during the most recent 12 months. Januat 5:54 AM 3 min read Bed Bath & Beyond's stock continues to be whipped up into a speculative fervor as traders place bets the retailer somehow averts bankruptcy. Home goods retailer Bed Bath & Beyond ( BBBY 3.11) looked oh-so-close to a turnaround. That’s an average cost of about $16.19 a share, well over Friday's price. The pandemic sucker-punched the vulnerable company. That’s an average cost of about $17.56, about double Friday's price.īy my read of its financial statements, the company spent about $273 million buying back stock for the 12 months ended on May 28. Cast iron, aluminum, stainless steel, nonstick stockpots come in many flavors. In the three months that ended May 28, a period during which it took out a $200 million loan, Bed Bath & Beyond says it spent about $40.4 million to buy back about 2.3 million shares. Shop smart and save with the free Bed Bath & Beyond Buying Guide to Stockpots. Apat 4:10 PM 1 / 13 Bed Bath & Beyonds Beyond Cookware Sale Has the Kitchen Upgrade You Need Having the right kitchen tools and gadgets can make all the difference when youre. And we’re talking current events as well as history. Get the latest Bed Bath & Beyond Inc (BBBYQ) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.
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