Market Report -- Short Stories (BBBY)
December 1, 2009 9:28 AM ET
Bed Bath & Beyond added to Wedbush's Best Ideas List . Wedbush adds BBBY to their Best Ideas List. The firm believes that the co should continue to benefit from industry consolidation, good visibility for cross merchandising opportunities and future growth potential for newer concepts, and strong balance sheet and cash flow. With the exit of Linens N Things, the firm sees three distinct sales and margin drivers: new customers to drive sales and comps, less gross margin pressure from coupon redemptions, and lower advertising expense from reduced coupon distribution. The company's newer concepts, Harmon, CTS and bbB, have strong cross merchandising opportunities, which should drive store productivity and have organic growth potential longer term. Additionally, the co has over $4 per share in cash and no debt and a share repurchase authorization in place for $1 bln, of which $886 mln remains.
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