First Trade Date for Bed Bath & Beyond Inc.
|Company Name||First Trade Date (yyyy-mm-dd)|
|Bed Bath & Beyond Inc.||1992-06-05|
|Bed Bath & Beyond Inc.||BBBY|
|History and Business of Company|
(this information may include date of incorporation)
Bed Bath & Beyond Inc. (BBBY) operates superstores selling predominantly better quality domestics merchandise and home furnishings typically found in more expensive department stores.|
BBBY's domestics merchandise line includes items such as bed linens, bath accessories and kitchen textiles, and BBBY's home furnishings line includes items such as cookware, dinnerware, glassware and basic housewares.
As of May 1, 2001, BBBY operated 316 stores in 43 states. Of these stores, 313 use the superstore format. These stores are on average approximately 40,000 square feet in size and carry BBBY's full line of both domestics merchandise and home furnishings. The other three stores, all established prior to 1986, are smaller stores that primarily carry domestics merchandise.
BBBY has been engaged in an ongoing expansion program involving the opening of new superstores (including 70 in 2000 and 55 in 1999) and the expansion of existing stores. As a result, BBBY's store space has increased from approximately 917,000 square feet at the beginning of 1992 to approximately 12,204,000 square feet at the end of 2000. BBBY currently anticipates that in FY 01 (Feb.) it will open at least 80 new superstores, which includes the five new superstores opened through May 1, 2001.
On an ongoing basis, BBBY tests new merchandise categories and adjusts the categories of merchandise carried in its stores and may add new departments or adjust the size of existing departments as required. Merchandise is shipped to each store from BBBY's vendors, making it unnecessary for BBBY to maintain any central distribution centers. As a result of the floor to ceiling displays used by BBBY, a substantial amount of merchandise is displayed on the sales floor of each store at all times. Additional merchandise not displayed on the sales floor is stored in separate warehouse space that is included in each store (with an estimated 10% to 15% of the space of each store being dedicated to warehouse and receiving space).
BBBY's strategy for merchandising and marketing is to offer better quality merchandise at low prices; to maintain a breadth and depth of selection in most product categories that exceeds what is generally available in department stores or specialty retail stores; to present merchandise in a distinctive manner; and to emphasize customer service and satisfaction. BBBY's business exhibits less seasonality than many other retail businesses, although sales levels are generally higher in August, November and December, and generally lower in February and March.
INCORPORATED in New York in 1971. OFFICE- 650 Liberty Avenue, Union, NJ, USA 07083 (Tel.: 908-688-0888). Fax - 908-688-6483. WEBSITE-http://www.bedbathandbeyond.com.
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