Bed, Bath and Beyond 2011 Annual Report Download - page 4
Download and view the complete annual report
Please find page 4 of the 2011 Bed, Bath and Beyond annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2 -
3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
14 -
15 -
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
 |
 |
BED BATH & BEYOND 2011 ANNUAL REPORT
2
To Our Fellow Shareholders:
20 years as a Public Company — A Look Back and A Glance Ahead
Since our founding with two small Bed and Bath stores in 1971, our focus has been on providing our customers
with the best possible shopping experience by emphasizing breadth and depth of assortment at the right price and
outstanding customer service. Fiscal 2011 was no exception.
As our Company has grown from the two original stores in 1971, to the 34 stores at the time we became a public
company in 1992, to the 1,173 stores we operated in all 50 states, the District of Columbia, Puerto Rico and Canada as
of the end of fiscal 2011, our fundamental business strategy of offering a broad and deep assortment of merchandise at
everyday low prices with superior customer service remains unchanged. This focus, the commitment of our associates
and the continued support of our business partners have enabled us to produce the successful results we have
experienced over the last 20 years as a public company.
Some highlights from fiscal 2011, our 20th year as a public company are as follows:
stock repurchase program.
During fiscal 2011, we added 38 new stores consisting of 13 Bed Bath & Beyond stores throughout the United States
and Canada, 5 Christmas Tree Shops stores, 19 buybuy Baby stores and 1 Harmon Face Values store. We also added
additional Harmon Face Values, Fine Tabletop and Giftware and Baby departments in existing stores. At fiscal year end,
we operated 1,173 stores, consisting of 993 Bed Bath & Beyond stores in all 50 states, the District of Columbia, Puerto Rico
and Canada, 71 Christmas Tree Shops stores, 64 buybuy Baby stores and 45 stores under the name of Harmon or Harmon
Face Values. In addition, we are a partner in a joint venture which operates two stores in the Mexico City market under
the name “Home & More.”
While fiscal 2011 by any metric was another year of solid accomplishment, of which we are proud, we continue to
believe our business can be, and must be, improved.
Although the economic environment remains uncertain and business conditions challenging, our financial position
permits us the flexibility to continue to test new merchandise initiatives throughout our stores, as well as to expand,
renovate, and/or relocate stores as we strive to increase their productivity. Through our efforts to cross-merchandise and
leverage our best practices across each of our concepts, and the ongoing development of our interactive platforms, we
expect over time to expand the ways in which we are able to serve our customers.