Bed Bath & Beyond — Bad Buybacks, Stock Price Tumble, and Shareholder Vote Overrides

What is going on at Bed, Bath and Beyond?

Stock price:

Shares of Bed Bath & Beyond lost almost a quarter of their value in morning trading on September 27, as the company’s performance continues to deteriorate to the lowest level in 18 years.


Bed Bath & Beyond Inc.’s (BBBY) buyback strategy could be “the worst buyback in history”, according to Action Alerts Plus Portfolio manager Jim Cramer.The struggling company, which is trading down 21% as of 1:18 p.m. in New York, has turned to buyback programs as a way to kick-start its stock in recent years.

Source: Jim Cramer: Bed Bath & Beyond Could Be Worst Buyback Ever – RealMoney

Overriding director vote:

And Bed Bath & Beyond Inc. has decided to keep longtime director Victoria A. Morrison on its board despite investors voting three months ago to unseat her.

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