The $11.8 billion mistake that led to Bed, Bath & Beyond’s demise
https://www.siliconvalley.com/2023/04/26/the-11-8-billion-mistake-that-led-to-bed-bath-beyonds-demise/
Bed, Bath & Beyond made plenty of mistakes that led to this week’s bankruptcy filing. Among the most consequential was the $11.8 billion it has spent since 2004 to buy back its own shares.
The company’s repurchase program wasn’t unique. But for a cash-starved business that announced it would likely be forced to close all of its stores if it couldn’t find an 11th-hour savior to buy it, the money could have been better spent. Instead, it fueled a desperate and ultimately failed effort to support its stock price.
The $11.8 billion mistake that led to Bed, Bath & Beyond’s demise
Apr 26, 2023, 1:33pm UTC
https://www.siliconvalley.com/2023/04/26/the-11-8-billion-mistake-that-led-to-bed-bath-beyonds-demise/
> Bed, Bath & Beyond made plenty of mistakes that led to this week’s bankruptcy filing. Among the most consequential was the $11.8 billion it has spent since 2004 to buy back its own shares.
> The company’s repurchase program wasn’t unique. But for a cash-starved business that announced it would likely be forced to close all of its stores if it couldn’t find an 11th-hour savior to buy it, the money could have been better spent. Instead, it fueled a desperate and ultimately failed effort to support its stock price.