Bed Bath & Beyond says securities auction fails
LOS ANGELES, March 12 (Reuters) - Retailer Bed Bath & Beyond Inc (BBBY.O: Quote, Profile, Research, Stock Buzz) said on Wednesday that a sale of its auction rate securities failed, due to current market conditions.
The company has $326 million in auction rate securities.
Bed Bath & Beyond said it 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, including its expansion program, and planned capital expenditures. (Reporting by Lisa Baertlein)
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