"For all of fiscal 2009, the Company expects to open approximately 35 new BBB stores throughout the United States and Canada, approximately seven new CTS stores, approximately 12 new buybuy BABY stores and approximately three new Harmon stores"
"During the fiscal first quarter of 2009, the Company opened six BBB stores, including its fifth store in Canada, one CTS store and one buybuy BABY store and closed one BBB store."
Looks like for year they plan on 35 new BBB stores alone, and for first Q closed only one BBB store. Sure doesn't seem like a lot. Expanding seems nutty but plausible sell is a land grab phase to fill in Linens NT void.
One thing is for sure, there is a great spread between perception and reality :-)
C'mon share those tidbits dude... stuff that might be true but is unverifiable is a blast... that's what message boards are all about
multi 90% up days began this rally and now once again a powerful signal has appeared with 3 90% down days in just 3 weeks. Ignore at your peril me thinks... any rips will be great to short.
Blow out, they are not even back to 0.36 earnings in 2006 LOL
You know they lowballed that estimate, it's the same play over and over.
Once again put sellers make out well. It's a good company, terrible environment.
BTW I am a small amount short into earnings, if there is a huge ramp like last time it will be a golden time to short the snot out of this stock. It is a rangebound trader's stock and you have to either sell the rips and buy the dips or vice versa, whatever works.
IMO unrelenting horrific news is going to overwhelm the mass psychosis of a quick recovery:
Redbook: US Retail Sales -4.4% First 3 Weeks June Vs May
NEW YORK (Dow Jones)--National chain store sales fell 4.4% in the first three weeks of June versus the previous month, according to Redbook Research's latest indicator of national retail sales released Tuesday.
The latest numbers are starkly different from recent weeks because they don't include Wal-Mart Stores Inc. (WMT), which said last month it would no longer provide monthly sales figures.
The fall in the index was compared to a targeted 4.1% drop.
The Johnson Redbook Index also showed seasonally adjusted sales in the period were down 4.5% compared with June 2008, against a targeted 4.2% fall
Not quite the ramp you wanted.
It seems the best way to make $$$ off BBBY during the earnings releases the last year or so has been to short puts. Someone bright keeps making money selling those.
"CHICAGO (AP) -- Bed Bath & Beyond Inc. CEO Steven Temares received compensation the company valued at $8.5 million during the past fiscal year, an increase of 32 percent" [...]
"Temares' base salary rose 20 percent to almost $1.5 million in 2008 from $1.3 million the year before" [...]
"Most of Temares' compensation came from restricted stock and options valued at $7 million. That's about 35 percent more than the $5.2 million he received in 2007 in stock and options"
I am so happy his rewards are commensurate with company performance:
"For the full year, the home decor chain earned $425.1 million, or $1.64 per share, down almost 25 percent from fiscal 2007, when its profit was $562.8 million, or $2.10 per share. [...]
Bed Bath & Beyond shares fell $1.35, or 4.8 percent, to close at $26.94 Wednesday."
I shoulda been a CEO!!!!
Covered 1/3 at ~28. Could have made more going long.
Everyone's on the bull bus now, polar opposite of just 2 months ago, weird.
OK Feinstein is not CEO/CFO. He is co founder along with Warren Eisenberg and both are co chairs and directors and both were big sellers:
So, Feinstein was a victim. Eisenberg was a victim via Mitzi and Warren trust:
Eisenberg's family too (Ronald) may have been a victim http://www.rutilusallec.com/?p=1955 , there are lots of ties to madoff at any rate.
So, both were vicitims at least to some extent and probably had savings depleted.
On the positive side for the company it seems like an external reason to cash in. On the negative side it does give them reason to pump the stock as you mention... pure speculation and nothing concrete here though.
OK thks, I see it is the co founder etc. Einstein, I mean Feinstein:
He sold 30+ mill $ worth in April, one of the big sellers, raising cash I guess ha ha
About the ARS, I was under the impression they were slowly redeeming them after failed auction and reclassified them from current assets to long-term assets (Mar 2008):
That article states 326 million March 2008, now in the 10k as of February 28, 2009 "the Company held approximately $216.6 million of net investments in auction rate securities", they are there in the long term investment securities.
Also there are some other details in there "During fiscal 2008, the Company entered into an agreement with the investment firm that sold the Company a portion of its auction rate securities to redeem at par approximately $43.2 million of these securities. This agreement provides for, among other things, the option to redeem these securities at par during fiscal 2010."
So bottom line, as the company states: "The Company does not anticipate that any potential lack of liquidity in its auction rate securities, even for an extended period of time, will affect its ability to finance its operations".
Cash went up a lot last Q (to ~670 mill) and I would assume that is related to the fact they only spent a whole 3 million last Q on the repurchase program.
Seems like they are being careful. I don't see a problem. Thoughts?
OK thx, I was wondering, I was looking at
torrential selling recently and NO buying for years
There have been more insider sales in the last month than the rest of the last four years combined and you don't make much of it? It seems they were planned but still you might want to think that over.
Vaporgenie, where do you see that the two biggest insiders sold over half their holdings?
Interesting, you said "confirmed by exchange official. AH trade was mistake.. 23-Apr-09 05:34 am "
Now you did the transaction? Keep the story straight please.
And you said "$32.50 after hours, big news coming tommorrow. 21-Apr-09 04:33 pm "
Still waiting on that big news? Pass me the bong bro.
As for insiders selling, well it seems that is just in vogue these days, that's all:
2008 they only spent 48 mill on repurch as compared to 734, 301, 598 the years before, the repurchase is dwarf-like compared to previous years. And cash+equivs is about 670 million.
Think they are (rightly so) conserving cash.