Bed, Bath and Beyond 2000 Annual Report Download - page 8

BED BATH & BEYOND ANNUAL REPORT 2000
6
We are pleased that our sales and
earnings growth have been consistent,
our cash flow positive, and our balance
sheet strong and flexible.
The organization we’ve built
continues to establish and achieve
impressive goals. Important
opportunities are being created
for the top-tier operators in our
industry. We’re pleased to note that
the performance gap between many
of our direct competitors and
ourselves has been widening, a trend
which we will strive to accelerate.
We continue to be excited
about new initiatives, addressing
specific aspects of our business,
which are now underway.
We are confident that
through this focus on
positive change we will
continue to improve
our operations. One of these initiatives,
e-service, which was launched a little over
a year ago, continues to develop as still
another important feature in our overall
customer service. Over the past year
we have publicized e-service to
a growing audience, and we
believe that customers who
have visited us online have been
extremely pleased.
Our decentralized culture,
which places much of the
decision-making closest to our
customers, has been responsible
for much of the success we have
achieved since we began
operations in 1971. We believe
this operating philosophy and
the entrepreneurial and
dedicated associates it
produces will continue to
provide us with a unique