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FINANCIAL ASTROLOGY

First Trade Date for Bed Bath & Beyond Inc.

 

 

Company NameFirst Trade Date (yyyy-mm-dd)
Bed Bath & Beyond Inc.1992-06-05

Company NameSymbol
Bed Bath & Beyond Inc.BBBY
History and Business of Company
(this information may include date of incorporation)
Bed Bath & Beyond Inc. and subsidiaries, excluding Harmon Stores, Inc. ("BBB") believes that it is the nation's largest operator of stores selling predominantly better quality domestics merchandise and home furnishings typically found in better department stores. BBB stores are typically larger in size than other stores in its market selling similar product categories and offering a breadth and depth of selection in most of its product categories. BBB offers a wide assortment of merchandise at everyday low prices that are substantially below regular department store prices and generally comparable to or below department store sale prices. BBB's domestics merchandise line includes items such as bed linens, bath accessories and kitchen textiles, and BBB's home furnishings line includes items such as cookware, dinnerware, glassware and basic housewares. BBB believes that it offers a breadth and depth of selection in most of its product categories that exceeds what is generally available in department stores or other specialty retail stores and that this enables it to offer customers the convenience of one-stop shopping for most household items.

As of May 2, 2003, BBB operated 497 stores in 44 states and one territory: Alabama (6), Arizona (6), Arkansas (3), California (58), Colorado (13), Connecticut (8), Delaware (1), Florida (44), Georgia (19), Idaho (2), Illinois (20), Indiana (9), Iowa (5), Kansas (5), Kentucky (4), Louisiana (7), Maine (2), Maryland (12), Massachusetts (10), Michigan (23), Minnesota (8), Mississippi (1), Missouri (8), Nebraska (1), Nevada (4), New Hampshire (2), New Jersey (23), New Mexico (2), New York (26), North Carolina (15), North Dakota (2), Ohio (17), Oklahoma (4), Oregon (6), Pennsylvania (21), Rhode Island (3), South Carolina (7), Tennessee (11), Texas (39), Utah (5), Vermont (1), Virginia (16), Washington (12), Wisconsin (5), and Puerto Rico (1). These stores principally range in size from 20,000 square feet to 50,000 square feet, with some exceeding 80,000 square feet, and carry BBB's full line of both domestics merchandise and home furnishings.

On March 5, 2002, the Company acquired Harmon Stores, Inc. ("Harmon"). Harmon is a health and beauty care retailer. As of May 2, 2003, the Company operated 29 Harmon stores.

The Company was founded in 1971 by Leonard Feinstein and Warren Eisenberg, the Co-Chairmen of the Company. Each has more than 40 years of experience in the retail industry.

The Company commenced operations in 1971 with the opening of two stores, one in New York and one in New Jersey. These stores sold primarily bed linens and bath accessories. In 1985, the Company introduced its first store carrying a full line of domestics merchandise and home furnishings. The Company began using the name "Bed Bath & Beyond" in 1987 in order to reflect the expanded product line offered by its stores and to distinguish its stores from conventional specialty retail stores offering only domestics merchandise or home furnishings. In 2002, the Company entered the deep discount health and beauty care market with the acquisition of Harmon.

The Company has been engaged in an ongoing expansion program involving the opening of new BBB stores (including 95 in 2002, 85 in 2001, and 70 in 2000), the expansion and relocation of existing BBB stores (including two in 2002, and two in 2000). As a result of its expansion program, BBB's store space has increased from approximately 917,000 square feet at the beginning of 1992 to approximately 17,255,000 square feet at the end of 2002. The Company's expansion program is continuing, and the Company currently anticipates that in fiscal 2003 it will open between 80 and 90 new BBB stores, which includes the seven new BBB stores opened through May 2, 2003.








 

 

 

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