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.

Buybacks:

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s