The retail superstar has scant accomplishments for his compensation. And I hear he's a terrible boss. The only success this company has had is because of the CEO's real estate strategies. I'm sure Honeyman will land with another company he can mess up
You're right...taking the company from a $55mm net loss (year prior to his arrival) to a $2mm profit (first time since 2006) and increasing shareholder value by over 100% are scant accomplishments right? The only reason I kept my position in this stock was solely because of Honeyman. He is credited for growing Bed Bath and Beyond from 150 stores to over 900 stores, and also for acquiring Christmas Tree Shops for them--I don't know if you know anything about business, but BBBY is a strong company, huh? I find it disgusting to see the complete ignorance of bloggers who don't look at the details and facts; run your numbers before you run your mouth.
Your arrogance is only superseded by your ignorance. What was the cause of the loss? What extraordinary items were part of it? And why do you give the credit to him?
First of all, they have expensed to a meager profit. It is not sustainable without growing the top line. Second, who credits him with the growth of BBY that you attribute to him. Long before he got there, the company was on a fast-growth trajectory led by to the owners and the president, Mr. Temares. They did not grow from 150 to 900 stores during Honeyman's tenure but were in a hyper growth mode long before 1997 when he arrived.
Finally, why do you feel compelled to engage in an ad hominem attack on this subject. Why don't you simply disagree and continue to misstate facts.
Companies frequently make bad hiring decisions. I believe they saw him as a retail expert who could turn the business around. Clearly he didn't do this. In part, it may have been because of his arrogance which would interfere with the chances for getting the team to execute.