|Bid||16.10 x 4000|
|Ask||17.42 x 1100|
|Day's Range||16.50 - 16.90|
|52 Week Range||10.46 - 21.45|
|Beta (3Y Monthly)||1.60|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 25, 2019 - Jul 1, 2019|
|Forward Dividend & Yield||0.64 (3.77%)|
|1y Target Est||17.87|
Bed Bath & Beyond Refreshes Its Board, Co-Founders Step Down(Continued from Prior Part)Valuation multiple The rise in Bed Bath & Beyond’s (BBBY) stock price since the beginning of 2019 has increased its valuation multiple. As of April 18,
Bed Bath & Beyond stock (ticker: BBBY) is up 49.7% year to date, but it isn’t because the retailer has somehow bucked the pressures of e-commerce and changing consumer tastes: Just the opposite, in fact. Bed Bath & Beyond became a target for a trio of activist investors—Legion Partners Asset Management, Macellum Advisors, and Ancora Advisors—after years of mismanagement. On Monday, Bed Bath & Beyond said its co-founders and co-chairmen Warren Eisenberg and Leonard Feinstein would retire from the board, and the company would add five new independent directors, effective in May. The company said it invited the activist funds to collaborate on the board transformation, but they declined.
Bed Bath and Beyond (NASDAQ:BBBY) stock took a hit early on Monday as the company announced that co-founders Warren Eisenberg and Leonard Feinstein will be stepping down.The Union, New Jersey-based retail chain said it has added five new independent members to its board of directors, replacing the two aforementioned co-founders. The move comes as the business has been facing pressure from a number of activist investors who seek a new look for the company's board.Bed Bath & Beyond received the suggestion from activist investors Legion Partners Asset Management, Macellum Advisors GP and Ancora Advisors last month. The goal was to replace the company's entire board, while also requesting that the business oust CEO Steven Temares.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe business said that it encouraged and invited the activist group to take part in the transformation of the board, but the investors declined. The Bed Bath & Beyond board changes will take place on May 1, which will see the board have 10 directors, nine of which are independent.The move comes as the company has faced its fair share of struggles in trying to keep up with changing consumer tastes, as well as new shopping habits. These unfavorable trends have sent the company's sales growth down to 1.1% last year-in 2003, it was 22%, which is when Temares took over as boss."The changes announced today reflect significant shareholder input and underscore our commitment to ensuring we have best-in-class governance," said Patrick Gaston, an independent chairman. More From InvestorPlace * 5 Dividend Stocks Perfect for Retirees * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Stocks to Buy for Spring Season Growth Compare Brokers The post BBBY Stock News: Bed Bath and Beyond Co-Founders Step Down appeared first on InvestorPlace.
Bed Bath & Beyond Refreshes Its Board, Co-Founders Step DownBig announcement On April 22, Bed Bath & Beyond (BBBY) announced that it’s refreshing its board. The company is replacing its five independent directors with new directors. Bed
Last month, activist investors Legion Partners Asset Management LLC, Macellum Advisors GP LLC and Ancora Advisors LLC urged Bed Bath & Beyond to replace its entire board and oust Chief Executive Steven Temares, citing the company's inability to grow sales and margins. The company's latest board shake-up, however, did not please the trio, which declined an invitation to participate in the transformation of the board. The investors said the new additions to the board do not have the required skill sets and retail experience to effect swift and real change as opposed to their slate of 16 members with varied retail experience.
Legion Partners Asset Management LLC, Macellum Advisors and Ancora Advisors LLC -- said the moves fall short of what’s needed and lacked details on how the new board would create value for shareholders. “The board changes announced today by Bed Bath are not nearly enough when measured against what is needed to address the issues with the current board and management, including that CEO Steven Temares must be held accountable for the company’s prolonged poor performance,” the group said in a statement Monday. Under the changes announced earlier Monday, the company named lead independent director Patrick Gaston as chairman, while Harriet Edelman, Harsha Ramalingam, Andrea Weiss, Mary Winston and Ann Yerger join as new independent directors.
In a statement, Bed Bath & Beyond said Patrick Gaston, the board's current lead independent director, has been named independent chairman, and five independent directors will step down. The company's co-founders Warren Eisenberg and Leonard Feinstein will retire from the board. The stock has risen nearly 54% in 2019 as three activist firms -- Legion Partners, Macellum and Ancora Advisors -- push the company to improve results.
Home goods retailer Bed Bath & Beyond Inc. (NASDAQ: BBBY ) on Monday announced a series of changes to its board of directors composition, including the retirement of company co-founders Warren Eisenberg ...
The retailer said five of its board members would depart, including the chain’s co-founders, Warren Eisenberg and Leonard Feinstein. Five new directors have been appointed to replace them, and board member Patrick Gaston has been named independent chairman. A special committee has been formed to focus on business strategy and transformation — an area that should be its most urgent priority.
Bed Bath & Beyond announced on Monday that two co-founders and five independent directors will leave its board, but that its chief executive will remain, defying calls from a trio of activist investors for his ouster. The struggling chain known for its stores that stock everything from pots and pans to as-seen-on-TV gadgets said Warren Eisenberg and Leonard Feinstein would step down from the board as co-chairmen. The group’s current lead independent director Patrick Gaston will assume the chair role.
Bed Bath & Beyond Inc. announced Monday a refreshment of its board of directors, in response to shareholder feedback, with five current independent directors set to step down. Shares gained 0.5% in premarket trade. Co-founders Warren Eisenberg and Leonard Feinstein will retire from the board, and transition to roles of Co-Founders, Co-Chairmen Emeriti. The new board will form a "business transformtion" and "strategy review committee" to review all aspects of its business, strategy and structure, and to reconstitute the audit and compensation committee. The board will formulate a new executive compensation plan that increases the "at-risk" component that further aligns compensation with the company's performance and shareholder value creation. The stock has gained 1.6% over the past 12 months, while the SPDR S&P Retail ETF has tacked on 3.1% and the S&P 500 has advanced 8.8%.
Five current independent directors will step down. Co-Founders Warren Eisenberg and Leonard Feinstein have transitioned to the role of Co-Founders, Co-Chairmen Emeriti and will retire from the Board.
Management is asking shareholders to trust in their plan, but what do they have to show for it?
A consortium of major shareholders is pressuring the management team, but company leadership wanted to leave investors with these key takeaways after a tough fiscal 2018.
Bruce Goldfarb, Okapi Partners founder, president and CEO, joins "Squawk Box" to discuss what could happen as activist investors focus on Bed Bath & Beyond.