We all know that the Bed Bath & Beyond (BBBY) retail chain is in such big trouble that it’s likely to file for bankruptcy. But what most people don’t know is this: A major reason the company is so messed up is that when it comes to its own stock, the company violated a key rule of retailing — buy cheap.
Would you believe that Bed and Bath has spent more than $11.7 billion to buy back almost three quarters of its own stock? At an average cost about 15 times the stock’s current price?…
Source link
