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Category: Bed Bath and Beyond (BBBY)
Date: 20 July 2020 Stock price of Bed Bath and Beyond: $9.22 We take a look at a press announcement released by Bed Bath and Beyond in which they announce that they have appointed Neil Lick a Williams-Sonoma Veteran to lead their owned brands division. And in addition to this Bed Bath and Beyond will require all customers to wear a mask from 24 July.
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The Company sells a wide assortment of domestic merchandise and home furnishings. he Company also provides a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries"
More about Bed Bath and Beyond
Bed Bath & Beyond Inc. and subsidiaries (the "Company") is an omnichannel retailer that makes it easy for our customers to feel at home. The Company sells a wide assortment of domestic merchandise and home furnishings. The Company also provides a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond
Bed Bath and Beyond press release regarding their $850 million asset based revolving credit facility
NION, N.J., July 13, 2020 /PRNewswire/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced the appointment of industry veteran Neil Lick as Senior Vice President (SVP), Owned Brands. Lick, formerly of Williams-Sonoma, will lead a newly formed team that expects to develop and launch a portfolio of customer inspired owned brands from 2021. The Company's Product growth strategy includes a sharper focus on product curation and differentiation as well as higher penetration of owned brands in core categories such as bed, bath and kitchen.
Executive Vice President, Chief Merchandising Officer, Joe Hartsig said: "To rebuild Bed Bath & Beyond's authority as the leading omnichannel Home retailer, we are reimagining how we develop and curate an owned brand assortment. Neil has deep experience building brands that people love and will spearhead our new owned brand team to curate and develop a portfolio of truly differentiated brands that deepen our penetration in our core categories and our connection with our loyal customers."
Neil Lick said, "At a time when our homes have never been more important to us, I'm excited to join a brand that plays such a vital role in the lives of its customers. Finding new ways to help customers feel at home couldn't be more relevant or exciting in the current context. I look forward to playing my part in rebuilding Bed Bath & Beyond's authority with customer inspired brands that are truly differentiating."
Lick comes to Bed Bath & Beyond after a 22-year career at specialty culinary retailer Williams-Sonoma. During his tenure at Williams-Sonoma, Lick held various leadership positions within merchandising, product development, inventory management, and as head of corporate social responsibility. He will report to Joe Hartsig, EVP, Chief Merchandising Officer and lead a cross functional team across the Company.
The Company's enhanced owned brand strategy will create a more relevant, inspiring and differentiated merchandise assortment exclusive to Bed Bath & Beyond, including in key rooms and occasions where it already has significant market share such as bed, bath and kitchen. The Company plans to introduce an array of owned brands in 2021 with the anticipation that the portfolio will expand over time.
Executive Vice President, Chief Merchandising Officer, Joe Hartsig said: "To rebuild Bed Bath & Beyond's authority as the leading omnichannel Home retailer, we are reimagining how we develop and curate an owned brand assortment. Neil has deep experience building brands that people love and will spearhead our new owned brand team to curate and develop a portfolio of truly differentiated brands that deepen our penetration in our core categories and our connection with our loyal customers."
Neil Lick said, "At a time when our homes have never been more important to us, I'm excited to join a brand that plays such a vital role in the lives of its customers. Finding new ways to help customers feel at home couldn't be more relevant or exciting in the current context. I look forward to playing my part in rebuilding Bed Bath & Beyond's authority with customer inspired brands that are truly differentiating."
Lick comes to Bed Bath & Beyond after a 22-year career at specialty culinary retailer Williams-Sonoma. During his tenure at Williams-Sonoma, Lick held various leadership positions within merchandising, product development, inventory management, and as head of corporate social responsibility. He will report to Joe Hartsig, EVP, Chief Merchandising Officer and lead a cross functional team across the Company.
The Company's enhanced owned brand strategy will create a more relevant, inspiring and differentiated merchandise assortment exclusive to Bed Bath & Beyond, including in key rooms and occasions where it already has significant market share such as bed, bath and kitchen. The Company plans to introduce an array of owned brands in 2021 with the anticipation that the portfolio will expand over time.
Bed Bath and Beyond will be requiring all clients to wear masks from 24 July 2020
UNION, N.J., July 17, 2020 /PRNewswire/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY)
Today, we are joining with a number of other leading retailers in requiring our customers to wear masks or face coverings when they shop with us in store.
The measures will take effect beginning July 24, to allow us time to communicate the change to our customers, and train our teams as we implement these new protocols as part of our comprehensive store safety plan. It will help ensure consistent safety standards for our customers and our people in the approximately 1,500 stores we operate across North America, including Bed Bath & Beyond, buybuy BABY, Christmas Tree Shops, Harmon Face Values and Cost Plus World Market.
We have prioritized the health and safety of our associate team, our customers and our communities throughout the COVID-19 pandemic. In line with the latest guidance from the CDC and others, we believe this simple step will help prevent the spread of the COVID-19 virus, allowing us to further safeguard our teams and allow our customers to continue to shop with confidence. In addition to today's announcement, we will also continue to employ a number of safety measures, which can be found in our Store Safety Plan.
We recognize that some people cannot wear masks for health reasons, and our associate teams will be trained to support customers in these exceptional circumstances. In addition, we will continue to provide a number of alternative options for customers to shop with us, including contactless Curbside Pickup or home delivery, through our e-commerce platforms. We welcome the understanding and continued support of our customers as we do what we can to help prevent the spread of COVID-19 for the sake of our people and the communities we serve.
Today, we are joining with a number of other leading retailers in requiring our customers to wear masks or face coverings when they shop with us in store.
The measures will take effect beginning July 24, to allow us time to communicate the change to our customers, and train our teams as we implement these new protocols as part of our comprehensive store safety plan. It will help ensure consistent safety standards for our customers and our people in the approximately 1,500 stores we operate across North America, including Bed Bath & Beyond, buybuy BABY, Christmas Tree Shops, Harmon Face Values and Cost Plus World Market.
We have prioritized the health and safety of our associate team, our customers and our communities throughout the COVID-19 pandemic. In line with the latest guidance from the CDC and others, we believe this simple step will help prevent the spread of the COVID-19 virus, allowing us to further safeguard our teams and allow our customers to continue to shop with confidence. In addition to today's announcement, we will also continue to employ a number of safety measures, which can be found in our Store Safety Plan.
We recognize that some people cannot wear masks for health reasons, and our associate teams will be trained to support customers in these exceptional circumstances. In addition, we will continue to provide a number of alternative options for customers to shop with us, including contactless Curbside Pickup or home delivery, through our e-commerce platforms. We welcome the understanding and continued support of our customers as we do what we can to help prevent the spread of COVID-19 for the sake of our people and the communities we serve.
Bed Bath and Beyond (BBBY) stock price history
The image below shows the stock price history of Bed Bath and Beyond (BBBY) over the last 3 years. And it's not been a good time for Bed Bath and Beyond (BBBY) stockholders over the last 5 years. Over the last 5 years the stock of Bed Bath and Beyond (BBBY) declined by -85.52%. Its been a volatile yet overwhelmingly negative time for Bed Bath and Beyond (BBBY) stock.
Our latest stock valuation of Bed Bath and Beyond (BBBY)
So what is Bed Bath and Beyond (NASDAQ: BBBY) stock worth based on the release of their latest earnings report? It is always hard to value a loss making company, and we either use cash generated per share as a proxy for earnings or our standard fall back position is using the stockholders equity per share as a base valuation. We therefore value Bed Bath and Beyond at $15.42 a stock. We therefore believe that the stock is undervalued.
We usually suggest long term investors look to enter a stock at least 10% below our target (full value) price which in this case is $15.42. So a good entry point into Bed Bath and Beyond's stock would be at $13.90 or below. Since the stock of Bed Bath and Beyond is trading well below our suggested entry point we rate the stock a buy at its current depressed price.
We usually suggest long term investors look to enter a stock at least 10% below our target (full value) price which in this case is $15.42. So a good entry point into Bed Bath and Beyond's stock would be at $13.90 or below. Since the stock of Bed Bath and Beyond is trading well below our suggested entry point we rate the stock a buy at its current depressed price.