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BBBY

Bed Bath & Beyond

$45.73

0.89 (1.98%)

15:01
11/23/16
11/23
15:01
11/23/16
15:01

Bed Bath & Beyond buys PersonalizationMall.com for about $190M in cash

Bed Bath & Beyond announced that it has acquired PersonalizationMall.com, PMall.com, an industry-leading online retailer of personalized products based in Burr Ridge, Illinois, for approximately $190M in cash, which reflects certain closing adjustments. Bed Bath & Beyond remains focused on its mission to do more for and with its customers and to be viewed as the expert for the home, and to become the destination for customers' needs and wants as they express their life interests and travel through their life stages; all through the expanding and differentiated products, services and solutions the Company offers. The acquisition of PMall.com expands the Company's existing assortment in the growing product personalization category and brings a complementary portfolio of differentiated products that commemorate all of life's events and special occasions such as weddings, birthdays, holidays and the welcoming of a child. Bed Bath & Beyond funded the transaction using cash on hand, and expects the acquisition to be slightly accretive to its net earnings per diluted share for fiscal 2016. The acquisition of PMall.com is not anticipated to have a material effect on Bed Bath & Beyond's fiscal 2016 third quarter ending on November 26, 2016. The Company's fiscal 2016 third quarter results are scheduled to be reported on December 21, 2016.

BBBY Bed Bath & Beyond
$45.73

0.89 (1.98%)

06/16/16
LBOW
06/16/16
INITIATION
LBOW
Neutral
Bed Bath & Beyond initiated with a Neutral at Longbow
06/16/16
06/16/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Chipotle (CMG) initiated with a Buy at Buckingham with analyst John Zolidis saying investors should take advantage of the dislocation in the business and stock price following recent food safety issues to purchase one of the highest quality companies in the sector. 2. Bed Bath & Beyond (BBBY) initiated with a Neutral at Longbow. 3. Shake Shack (SHAK) initiated with a Buy at Buckingham. 4. CSX (CSX), Norfolk Southern (NSC), and Union Pacific (UNP), initiated with a Perform at Oppenheimer. 5. Kansas City Southern (KSU) initiated with an Outperform at Oppenheimer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/23/16
DBAB
06/23/16
NO CHANGE
Target $42
DBAB
Hold
Bed Bath & Beyond price target lowered to $42 from $45 at Deutsche Bank
Deutsche Bank analyst Mike Baker noted that Bed Bath & Beyond reported sales, comps and EPS that were all below expectations and points out that the company made "some subtle and not so subtle" changes to guidance, including the fact that it cut its comp guidance. Baker maintain a Hold rating on BB&B shares, citing valuation, and lowered his price target on the stock to $42 from $45.
06/23/16
OPCO
06/23/16
NO CHANGE
OPCO
Perform
Bed Bath & Beyond continues to struggle, says Oppenheimer
Oppenheimer analyst Brian Nagel says Bed Bath & Beyond's weaker than expected Q1 results and more downbeat fiscal year 2016 outlook reflect ongoing struggles at the company. While the analyst remains optimistic that over the longer term Bed, Bath & Beyond will find the right formula to compete effectively online while protecting industry leading margins, he expects the current transition at the company to persist for a while and fuel choppiness in results. Nagel reiterates a Perform rating on the shares.

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