Bed, Bath and Beyond 2000 Annual Report Download - page 5

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home goods remains under 4%, which continues to afford us
substantial expansion opportunities. Industry growth
demographics remain quite strong, and we now believe that we
can operate more than 850 stores in the United States. We also
continue to explore other profitable growth opportunities,
including international expansion, and are pleased to note that
a superstore in Bayamon, Puerto Rico is included in our 2001
opening plan.
Once Again, It’s Our Corporate Culture:
We are frequently asked the question: “Why does Bed Bath &
Beyond do so well in a business where so many others have
experienced problems?” As discussed in previous shareholder
communications, the
answer lies in a
successful business
model which
incorporates a unique
corporate culture
developed and evolved
since our Company’s
founding in 1971. Our
culture is based upon a common sense approach to giving our
customers the best possible shopping experience, bar none. We
know we must strive to exceed our customers’ expectations.
From inception, we’ve believed strongly in a decentralized
organization. Our field personnel, regardless of any prior
experience in retailing, begin their Bed Bath & Beyond careers
on the sales floor, and are trained to be entrepreneurs and
merchants. They are encouraged and expected to find ways to
improve their stores’ business. Before becoming store
managers, they have developed the initiative and the ability to
BED BATH & BEYOND ANNUAL REPORT 2000
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