Key Developments: Bed Bath & Beyond Inc (BBBY.O)
69.53USD
23 May 2013
$1.26 (+1.85%)
$68.27
$68.41
$69.65
$68.21
2,189,276
2,499,080
$75.84
$54.33
Latest Key Developments (Source: Significant Developments)
Bed Bath & Beyond Inc Comments On Q1 2013 Revenue Outlook; Issues Q1 2013 EPS Outlook In Line With Estimates; Issues FY 2013 Revenue Outlook; Issues FY 2013 EPS Outlook Below Estimates-Conference Call
Bed Bath & Beyond Inc announced that taking into account that the prior year was a 53-week year, and including newly acquired companies, the Company is modeling consolidated net sales to increase by 17% to 19% for the first quarter of 2013 and approximately 5% to 7% for fiscal 2013. Based on these and other planning assumptions, including a tax rate that is approximately 400 to 500 basis points higher than in the first quarter of 2012, the Company is modeling net earnings per diluted share (EPS) to be approximately $0.88-$0.94 for first quarter of 2013. For fiscal 2013, including the incrementally higher tax rate assumption, the Company is modeling net earnings per diluted share to increase by a mid-single-digit to a low-double-digit percentage range over the 53 weeks of fiscal 2012. The Company reported revenue of $10.914 billion and EPS of $4.56 in fiscal 2012 and revenue of $2.218 billion in first quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $2.59 billion and EPS of $0.93 for first quarter of 2013; revenue of $11.66 billion and EPS of $5.02 for fiscal 2013. Full Article
MacroSolve Inc Files Patent Infringement Suit Against Bed Bath & Beyond, Inc.
MacroSolve Inc announces it has filed a patent infringement suit against Bed Bath & Beyond, Inc. for violation of MacroSolve's U.S. Patent No. 7,822,816. The patent addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer. MacroSolve's patent covers fundamental technology in the mobile application space utilized by multiple companies. Full Article
Bed Bath & Beyond Inc Issues Q4, FY 2012 EPS Guidance Below Analysts' Estimates
Bed Bath & Beyond Inc announced that for the fourth quarter of 2012, it expects net earnings per diluted share (EPS) to be approximately $1.60 to $1.67 and consistent with prior estimates, to be approximately $4.48 to $4.54 for all of fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $1.75 for the fourth quarter of 2012; EPS of $4.65 for fiscal 2012. Full Article
Bed Bath & Beyond Inc Comments On Q3, Q4 2012 Revenue Guidance; Issues Q3 2012 EPS Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 EPS Guidance-Conference Call
Bed Bath & Beyond Inc announced that for the third quarter of 2012, it expects consolidated net sales growth to be 15%-18% and net diluted EPS to be approximately $0.99-1.04, For the fourth quarter of 2012, the Company expects consolidated net sales growth to be 24%-26%. The Company also announced that it continue to model net earnings per diluted share to increase by a high-single-digit to low-double-digit percentage range over fiscal 2011. The Company reported EPS of $4.06 in fiscal 2011. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $2.712 billion and EPS of $1.02 for the third quarter of 2012; and revenue of $3.387 billion for the fourth quarter of 2012. Full Article
Bed Bath & Beyond Inc. Issues Q2 2012 EPS Guidance; Comments On FY 2012 EPS Guidance
Bed Bath & Beyond Inc. announced that for the second quarter of 2012, it expects modeling net earnings per diluted share to be approximately $0.97 to $1.03 and continues to model net earnings per diluted share to increase by a high single to a low double digit percentage range for all of fiscal 2012, which will be 53 weeks. The Company reported EPS of $4.06 in fiscal 2011. Full Article
Bed Bath & Beyond Inc. Announces All Cash Acquisition Of Linen Holdings, LLC
Bed Bath & Beyond Inc. announced the all cash acquisition of Linen Holdings, LLC for approximately $105 million. Based in Gibbsboro, New Jersey, Linen Holdings, LLC is a privately-held, value-added distributor of bath, bed and table linens, other textile products and amenities to customers in the hospitality, cruise line, food service, healthcare and other industries. Full Article
Bed Bath & Beyond Inc. Reaches Agreement To Acquire Cost Plus, Inc.
Bed Bath & Beyond Inc. and Cost Plus, Inc. jointly announced that they have entered into a definitive agreement under which Bed Bath & Beyond Inc. will acquire Cost Plus, Inc. in an all cash transaction. Bed Bath & Beyond Inc. has agreed to make a cash tender offer for all outstanding shares of Cost Plus, Inc. common stock at a price of $22 per share, followed by a merger in which all shareholders that have not tendered would receive the same consideration.. A special committee of the Cost Plus, Inc. Board of Directors also recommended the transaction following receipt of a fairness opinion from its financial advisor. In addition, Bed Bath & Beyond Inc. has entered into agreements with Red Mountain Capital Partners LLC and Stephens Investment Holdings LLC, the two largest shareholders of Cost Plus, Inc. pursuant to which each shareholder has committed to tender all of their shares, which in aggregate comprise approximately a 26% interest in Cost Plus, Inc., into the offer. The acquisition is expected to close during Bed Bath & Beyond Inc.’s fiscal second quarter. Goldman, Sachs & Co. is acting as financial advisor to and Proskauer Rose LLP as legal advisor to Bed Bath & Beyond Inc. Peter J. Solomon Company is acting as financial advisor to and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor to Cost Plus, Inc. Full Article
Bed Bath & Beyond Inc. Comments On Q1 2012 Revenue Guidance; Issues Q1 2012 EPS Guidance In Line With Analysts' Estimates; Issues FY 2012 Guidance In Line With Analysts' Estimates-Conference Call
Bed Bath & Beyond Inc. announced that for the first quarter of 2012, it expects modeling consolidated net sales to increase by 4% to 6% and modeling net earnings per diluted share (EPS) to be approximately $0.79 to $0.83. For fiscal 2012 it expects modeling consolidated net sales to be 5% to 7% and net earnings per diluted share to increase by a high single digit to a low double digit percentage. The Company reported revenues of $5.191 billion and EPS of $2.97 in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.345 billion and EPS of $0.79 for the first quarter of 2012; revenues of $5.679 billion and EPS of $3.5 for fiscal 2012. Full Article
Bed Bath & Beyond Inc. Issues Q4 2011 EPS Guidance In Line With Analysts' Estimate; Raises FY 2011 EPS Guidance
Bed Bath & Beyond Inc. announced that it is now modeling net earnings per diluted share (EPS) to be approximately $1.28 to $1.33 for the fourth quarter of 2011, and approximately $3.86 to $3.92 for all of fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.32 for the fourth quarter of 2011; EPS of $3.90 for fiscal 2011. Full Article
Bed Bath & Beyond Inc. Issues Q3 2011 EPS Guidance In Line With Analysts' Estimates; Raises FY 2011 EPS Guidance
Bed Bath & Beyond Inc. announced that it is now modeling net earnings per diluted share (EPS) to be approximately $0.82 to $0.87 for the third quarter of 2011 and to increase by approximately 22% to 25% for all of fiscal 2011. The Company reported EPS of $3.07 in the fiscal 2010. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.86 for the third quarter of 2011; EPS of $3.68 for fiscal 2011. Full Article
BRIEF-Bed Bath and Beyond shares down 2.1 pct after the bell following results
NEW YORK, April 10 - Bed Bath & Beyond Inc : * Shares were down 2.1 percent after the bell following the release of its results
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