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2005 Annual Report • Notice of Annual Meeting • Proxy Statement
ToOur Fellow Shareholders:
Through the exemplary efforts of our more than 33,000 associates, our name becomes more familiar each week.
As recognition of our name increases, this magnifies the significance of what our name represents. Bed Bath &
Beyond, with its Bed Bath & Beyond, Christmas Tree Shops and Harmon stores, must stand for selection, quality,
value and service. As importantly, our name must also stand for integrity and respect for our customers, associates
and the communities we serve. We know that everything we do, every interaction we have, reflects on our name.
Simply put, everything counts.
That is why many of you have noticed, and even encouraged, our efforts over the last several years to decrease
the cost of this annual publication. It is a small thing, but it reflects our commitment to be efficient and effective in
everything we do. This desire for efficiency naturally extends to the areas of our energy usage and the consumption
of natural resources. The broader concerns over energy costs, our nation’s dependence on foreign oil, the rate of
consumption and environmental impacts of fossil fuels, deforestation, and global warming, must be our concerns
as well. Our response to these broad concerns is local, from changing the temperature in our stores to managing
centrally their energy efficiency, to using new, “cooler” materials for our roofs and more efficient lights to illuminate
our storesigns. All these provide us many opportunities on a community level to conserve. Being concerned about
conservation is, often times, more expensive in the short term, but it would be far too expensive for our future and
for the futureof our children, in the long term, to ignore.
In the case of the booklet you areholding, this year we have opted to use recycled paper, which costs more
than the paper we have used previously. However, we have been able to keep the cost per book at the same level
as last year by going to a less expensive, coverless format. Also, as we have for the last several years, we have
combined our Annual Report, Notice of Annual Meeting and Proxy Statement into this single booklet. Our goal
again is to present you our annual information in as straightforward and cost efficient a manner as possible.
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