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. Bed Bath & Beyond BedBathBeyond Tips, tricks, and tweets all to help you homehappier. 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. That’s an average cost of about 17.56, about double Fridays price. That’s an average cost of about $16.19 a share, well over Friday's price. 1 day ago &0183 &32 A US bankruptcy judge on Tuesday approved ’s 21. 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. And the company is still searching for a permanent chief. 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. Bed Bath & Beyond's stock took a major hit last month after an influential investor sold all of his nearly 7.8 million shares. cookware sets Versatile and price-friendly sets for exceptional cooking. dutch ovens Bring joy to the kitchen with sturdy beautiful pieces. 10 Yr Crude Oil 69.51 Euro 1.0937 0.32 English Edition Print Edition Video. Shop Our Table fry pans Well-created and nonstick for easy cooking and cleaning.
And we’re talking current events as well as history. Bed Bath & Beyond Stock Rises After Company Announces Store Closings DJIA 33727.43 0.65 S&P 500 Nasdaq U.S. US judge approves Overstocks 21.5 mln Bed Bath & Beyond purchase.
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