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dangerous, warning, bbby market value $700,000,000, inventory $1,900,000,000 last 10q
no change, stagnant, around 6,500,000 million monthly Google searches, around 4,000,000 monthly type ins, for bed bath beyond and bedbathandbeyond.com respectively
plenty of room left for shorting bbby, China is closed, cant ship chinese crap
Sera Labs Inc. Products Now Available at Walmart, Bed Bath & Beyond, CVS and Target.com
LOS ANGELES, April 14, 2022 (GLOBE NEWSWIRE) -- Sera Labs, a wholly subsidiary of CURE Pharmaceutical Holding Corp. (OTC: CURR), today announced its Seratopical Revolution skincare line will be sold at select Walmart Stores, as well as CVS, and Bed Bath & Beyond stores. Sera Labs also has garnered placement for its revolutionary oral thin film strip, Nutri-Strips™ on shelves at CVS and at Target.com. The Nutri-Strip technology is proprietary to Sera Labs and is the result of years of research and more than 25 patents by CURE Pharmaceutical.
Nancy Duitch, Sera Labs’ CEO and CURE Pharmaceutical’s Chief Strategic Officer, stated, “This is another fantastic branding and expansion achievement. Our goal is to differentiate our products by using advanced and proprietary technologies including unique high-tech delivery systems. Our formulations are derived from scientifically backed ingredients and marry problem-solving attributes with beautiful packaging that stands out on the shelf. In addition, the connection of our brand with one of the most respected and recognized actors in the world: Nicole Kidman – who serves as strategic partner and global brand ambassador - makes our company and brand a fierce competitor in the beauty and wellness industry.”
Seratopical Revolution combines nature and science into one clean and nourishing line of beauty products. The line’s P3P complex, developed by CURE Pharmaceutical, drives natural, clean, plant-based ingredients into the deeper layers of the skin by utilizing a proprietary tri-peptide delivery system. Unlike other companies that use alcohol as a delivery system, which is incredibly drying to the skin, Seratopical Revolution’s natural oil and surfactant delivery systems are highly efficacious and offer near immediate results.
Duitch continued, “We continue to build our successful brands via multiple marketing channels that create awareness and are return-on-investment driven. With shelf space and online access for both Seratopical Revolution and Nutri-Strips at the largest mass and drug retail stores in the country we have created a compelling opportunity to acquire new customers and drive sales at a faster pace.”
About Sera Labs
Sera Labs® is a trusted leader in the health, wellness, and beauty sectors of innovative products with cutting edge technology and superior ingredients such as CBD and clean plant-based products. Sera Labs creates high quality products that use science-backed, proprietary formulations. Its more than 20 products are sold under the brand names Seratopical™, and SeraLabs™, Sera Labs sells its products at affordable prices, making them easily accessible on a global scale. Strategically positioned in the growth market categories of beauty, health & wellness. Sera Labs products are sold in major national drug, grocery chains and mass retailers. The company also sells products under private label to major retailers and multi-level marketers, as well as direct-to-consumer (DTC), via online website orders, including opt-in subscriptions. For more information visit: Seratopicalrevolution.com, Seratopical.com, Seralabshealth.com and follow us on Instagram at @seratopical, as well as Twitter, and Facebook. Media contact: press@theseralabs.com.
About CURE Pharmaceutical Holding Corp.
CURE Pharmaceutical® is the pioneering developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate- and controlled-release drug delivery vehicles designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients.
As a vertically integrated company, CURE’s 25,000 square foot, FDA-registered, NSF® cGMP-certified manufacturing facility enables it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURE has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe.
Forward Looking Statement
Statements CURE makes in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. CURE intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and is making this statement for purposes of complying with those safe harbor provisions.
These forward-looking statements include, without limitation, the ability to successfully market the partnered products, the difficulty in predicting the timing or outcome of related research and development efforts, partnered product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect CURE’s judgment as of the date of this press release. CURE disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Investor Contact:
investor@curepharma.com
Hanover International Inc.
Jim Hock
JH@hanoverintlinc.com
You at the HOE house? LOL
Might tank tomorrow
Yuck. I misunderstood. He wants them to keep the loser Bed bath and Beyond and sell the only value. buybuy baby.
Hummm. Good luck with that.
Letter to the board
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
EX-99.1 2 ex991to13d13351002_03072022.htm LETTER TO BOARD
RC Ventures LLC
March 6, 2022
Bed Bath & Beyond Inc.
650 Liberty Avenue
Union, New Jersey 07083
Attn: Board of Directors
Dear Members of the Board,
I write to you in my capacity as the Manager of RC Ventures LLC (together with its affiliates, “RC Ventures” or “we”), which is a top five shareholder of Bed Bath & Beyond, Inc. (“Bed Bath” or the “Company”) with beneficial ownership of approximately 9.8% of the Company’s outstanding shares.
We have carefully assessed Bed Bath’s assets, balance sheet, corporate governance, executive compensation, existing strategy and potential alternatives. While we like Bed Bath’s brand and capital allocation policy, we have concerns about leadership’s compensation relative to performance and its strategy for reigniting meaningful growth. Approximately 18 months after releasing a 170-page cover-the-waterfront plan, the Company is struggling to reverse sustained market share losses, stem years-long share price declines and navigate supply chain volatility. Meanwhile, the Company’s named executive officers were collectively awarded nearly $36 million in compensation last fiscal year – a seemingly outsized sum for a retailer with a nearly $1.6 billion market capitalization.
It is important to stress that we do not place significant emphasis on any one quarter or any one year when evaluating a business. We also do not criticize a board of directors and management team when they are quietly laying a foundation for future growth and value creation. To the contrary, we are maniacally focused on the long-term. But the issue at Bed Bath is that its highly-publicized and scattershot strategy is not ending the tailspin that has persisted before, during and after the pandemic’s nadir and the appointment of Chief Executive Officer Mark Tritton. As evidence, we point to the Company’s disappointing shareholder returns and perpetual underperformance across every relevant time horizon:
TOTAL SHAREHOLDER RETURNS (“TSR”)
1-YEAR 3-YEAR 5-YEAR 10-YEAR CEO TENURE
Bed Bath -43.55% 10.67% -54.01% -69.32% 20.57%
S&P 500 16.47% 63.10% 98.81% 284.91% 46.11%
S&P Retail Select Industry Index -2.17% 77.53% 93.81% 197.68% 79.05%
Bed Bath’s Selected Peer Group3 19.70% 60.90% 98.22% 217.76% 71.88%
Almost two-and-a-half years into Mr. Tritton’s tenure, Bed Bath has underperformed the S&P Retail Select Industry Index by more than 58% on an absolute basis and is looking at an approximately 29% decline in full-year sales from pre-pandemic levels.4 In the most recent quarter, core sales dropped by 14% year-over-year and same-store sales dropped by 7% year-over-year.5 These results cannot be solely blamed on the pandemic when other retailers are nearing or exceeding 2019 sales levels. That is why we feel compelled to scrutinize the viability of the Company’s extremely ambitious and widely-touted strategy.
In light of these circumstances, we hope you are open to adjusting Bed Bath’s strategy and exploring alternative paths to value creation. We cannot imagine Bed Bath’s Board of Directors (the “Board”) is wedded to its current strategy when the independent members have made very few open market purchases and appear to hold less than 0.5% of the Company’s shares in the aggregate (most of which has been granted at shareholders’ expense).6 Similarly, we do not see how Mr. Tritton is in a position to dismiss our input when shareholders have compensated him to the tune of approximately $27 million over the past two fiscal years – a number that exceeds what was paid to the chief executives of much larger retailers such as Advanced Auto Parts (~$13 billion market capitalization), Dollar Tree (~$33 billion market capitalization), Kohl's (~$8 billion market capitalization) and Macy's (~$7.5 billion market capitalization).
Though we understand the pandemic was a major challenge, Mr. Tritton should recognize that chief executives who are awarded outsized compensation and seek frequent publicity also invite much higher expectations when it comes to growth and shareholder value creation.
At bottom, cracks have emerged in Bed Bath’s overly ambitious strategy. Leadership should assess whether a shrinking small-cap retailer with a modest cash position and nearly $1.2 billion in debt can afford to roll the dice. We believe Bed Bath needs to narrow its focus to fortify operations and maintain the right inventory mix to meet demand, while simultaneously exploring strategic alternatives that include separating buybuy Baby, Inc. (“BABY”) and a full sale of the Company.
Our suggestions are as follows:
1. Bring Greater Focus to the Company’s Cumbersome Strategy – From our vantage point, Bed Bath’s strategy looks far better in a PowerPoint deck than it does in practice. It is full of "principles" and "pillars" that high-priced management consultants probably thought would placate information-hungry analysts and satisfy shareholders. However, we – and apparently a large portion of the market based on Bed Bath’s short interest – doubt the Company can simultaneously buy back shares, cut expenses, invest in its infrastructure and growth, launch new offerings and meet customer demand for core goods. This plan, at least in its present form, does not seem viable.
Our own experience taking Chewy from a start-up to the ultimate destination for pets leads us to believe that focusing on a core set of objectives drives superior outcomes. In the case of Bed Bath, it appears that trying to execute on dozens of initiatives at once is leading to dozens of mediocre outcomes. We believe the Company would have been better served by front-loading the modernization of its supply chain and technology stack before engaging in more fanciful pursuits. Similarly, we feel managing the core product catalog and sustaining the right inventory mix for customers amidst the supply-constrained environment should have been fully prioritized over meeting management’s October 2020 pledge to launch various private label brands in 18 months. We suspect Bed Bath will benefit more at this stage by bringing simplicity to its plan: finish fortifying the infrastructure, make remaining store fleet improvements, and prioritize core assortment and inventory fixes to meet near-term demand.
We also believe management made an avoidable mistake in Fiscal Year 2021 by giving into Wall Street’s short-term information desires and providing guidance. The Company faced the pandemic, an unprecedented supply chain environment and its own turnaround. Leadership ultimately set itself up for failure and recently had to materially revise guidance, which we believe it should have never issued in the first place:
Metric Prior Fiscal Year 2021 Guidance Revised Fiscal Year 2021 Guidance
Sales $8.1 Billion to $8.3 Billion Approximately $7.9 Billion
Same-Store Sales Low Double-Digits High Single-Digits
Adjusted SG&A Approximately 32% Approximately 34%
Adjusted EBITDA $425 Million to $465 Million $290 Million to $310 Million
In light of our long-term focus, we are not an investor that demands guidance. In fact, we appreciate that Apple, one of our long-term holdings, suspended guidance amidst pandemic-related uncertainty and has never given away a detailed strategy for all of its competitors to see. We dislike when a management team spends time accommodating Wall Street, engaging with television pundits and telegraphing forecasts to the competition. We believe management’s time is best spent focusing on execution that drives a better customer experience and tangible value creation.
2. Seek to Monetize the Ultimate Destination for Babies – Another path that can streamline Bed Bath’s strategy and unlock value trapped within the Company’s underperforming shares is a sale or spin-off of the BABY banner. Given that BABY is estimated to reach $1.5 billion in sales in Fiscal Year 2023 with a double-digit growth profile and at least 50% digital penetration, we believe it is likely much more valuable than the Company’s entire market capitalization today.9 Assuming continued growth and low double-digit margins, we estimate that BABY could be valued at a double-digit earnings multiple on a standalone basis. We believe under the right circumstances, BABY could be valued on a revenue multiple, like other ecommerce-focused retailers, and justify a valuation of several billion dollars.
In the event Bed Bath pursued a full or partial sale of BABY, it could position itself to pay off debt, put cash on the balance sheet and continue reducing its share count, thereby creating significant value for shareholders. Spinning off shares of BABY would be an even more efficient way to transfer value to shareholders. Notably, BABY’s high online penetration would likely ease operational hurdles. We assume Bed Bath and BABY could still have a shared services agreement to maintain an omnichannel experience for customers.
3. Evaluate a Full Sale to a Well-Capitalized Acquirer – The final path we want to raise for consideration is a full sale of Bed Bath, in its current form, to one of the many well-capitalized financial sponsors with track records in the retail and consumer sectors and the ability to pay a meaningful premium. The past 10 years have shown that Bed Bath faces a difficult existence in the public market. The market is not giving the Company nearly enough credit for BABY’s value. A sale that can lock in a substantial premium for shareholders and provide Bed Bath the flexibility of the private market could be an ideal outcome for customers, employees and investors.
We believe Bed Bath presently satisfies financial sponsors’ interest in specialty retailers with recognizable brands, niche assets and sub-banners, and margin expansion opportunities. A private market participant with a long-term vision could unlock meaningful value by running the core business for cash and initiating a public offering for BABY at the optimal time. After stripping out the sizable costs of being a public company and setting a more focused strategy, we suspect Bed Bath’s core business — excluding BABY — could generate attractive earnings.
4. Strengthen Leadership’s Alignment with Shareholders – We are supportive of corporate leaders receiving significant compensation when they produce superior shareholder returns. But when it comes to Bed Bath, we contend there need to be improvements to the Company’s executive compensation structure and a stronger ownership mentality in the boardroom. We believe these improvements should be made regardless of the Company’s strategic direction.
Hopefully leadership acts with urgency to implement the aforementioned suggestions. Given that I am the Chairman of GameStop and overseeing a systematic transformation, I am not in a position to join Bed Bath’s Board and personally drive the initiatives outlined in this letter. This does not mean, however, that RC Ventures will not seek to hold the Board and management accountable if necessary.
Sincerely,
Ryan Cohen
Manager
RC Ventures LLC
Ryan Cohen Scores $656 Million For Himself By Doing Nothing
https://www.investors.com/etfs-and-funds/sectors/ryan-cohen-scores-millions-for-himself-by-doing-nothing-bbby-gme/?src=A00220
MATT KRANTZ02:29 PM ET 03/07/2022
Ryan Cohen has yet to make any material difference to GameStop (GME). But he's making a giant improvement to his own portfolio: $656 million, also thanks to Bed Bath & Beyond (BBBY).
In less than two years, Cohen, the 35-year-old founder of online pet store Chewy (CHWY), has made more than $650 million on his investments in GameStop and now Bed Bath & Beyond. It's part of an effort for the young investor to find deeply distressed stocks, announce his involvement, and watch the gains roll in. The way investors pile into stocks Cohen is involved in is similar to bump-ups enjoyed by those Warren Buffett or Carl Icahn invest in.
Shares of Bed Bath & Beyond surged more than 30% Monday on the regulatory filing showing Cohen took a 9.5 million share stake in the company's stock. That amounts to roughly 10% of the retailer's 95.8 million shares outstanding. Cohen is pushing the board to make changes to the business. Shares of the home goods seller, part of the "meme stock" rebellion, had been down nearly 50% in the past 12 months. The S&P 500 in that time is up more than 13%.
But Cohen is showing an uncanny ability to make money for himself just throwing his name around.
Cohen Scores On GameStop As Others Suffer
Cohen's biggest score is still GameStop. And that's even while his personal involvement as chairman has yet to pay off in any fundamental way.
He's now hauled in $600 million in gains on his three purchases of the struggling video-game seller. His initial purchase of 6.5 million shares in September 2020 rocketed nearly 1,000% in value, putting more than $600 million into his pocket. His second buy in late 2020 is now up more than 300% to a gain of $106 million.
But reality is setting in. Shares of GameStop are now down more than 40% in a year's time. And that's despite Cohen's big plans for the company. Cohen took over as director of the company on Jan. 11, 2021. And he's vowed to launch GameStop into digital businesses like non-fungible tokens (NFTs) and online games distribution. And yet, the company lost an adjusted $138.8 million, or $2.14 a share, in 2021. That actually reversed a $19.1 million, or 22 cents a share gain, in 2020. Revenue in 2021 also dropped more than 20%.
Analysts don't see much improvement. The company is seen losing $122.97 million, or $1.69 a share, in 2022. And losing money again in 2023. And Cohen is now down roughly $107 million on his third GameStop investment in the first quarter of 2021.
The Cohen-Effect At Bed Bath & Beyond
Now, it's Bed Bath & Beyond's turn to fell the "Cohen effect."
Cohen pocketed more than $53 million on his 9.5 million share stake in Bed Bath & Beyond based on the date that disclosure was required, on Feb. 24. He's been accumulating shares since early this year. And again, he hasn't done anything yet to improve the company's fortunes.
He did, though, issue a strongly worded letter to the company's board. He's calling for change at the company, but holds no managerial role there. "In March 6, 2022, the Reporting Persons delivered a letter to the Board (the "Letter") encouraging the Board to adjust the Issuer's strategy and explore alternative paths to value creation. Specifically, the Reporting Persons expressed their belief that the Issuer should narrow its focus to fortify operations and maintain the right inventory mix to meet demand, while simultaneously exploring strategic alternatives that include separating buybuy Baby, Inc. and a full sale of the Issuer," the filing said.
But when your name alone is worth millions, it's the announcement that matters most.
Business wise - Dump the loser bed bath & beyond. Keep buybuy Baby, Inc!
I LOVE THAT.
Bed bath & beyond, from a woman's point of view, can't compete with Target and Walmart. Why overpay for the same exact stuff?
But buybuy Baby?
They have everything. Convenience matters. Selection matters. Not one stroller - 50 strollers. Not one car seat. 50 car seats. Not one crib - 50 cribs. (Whatever it may actually be... but you get the point ;)
Dump the crap store, and keep the 'easy to be a grandma with a ton of money burning the inside of her pockets' store. I think it's genius.
I hope he pulls it off!
(Not in it. But now tracking that gap.)
Puts were definitely a great play today. No reason for the jump up.
My word, you're here too??
Get a premarket bump like that for no real value, usually good time to sell calls.
I sold 29s expiring Friday for $4.30. They are worth 50 cents right now. I'll close them out before the day is out.
Being shorted over 20%. I would have expected this to be over 50$ now. Oh well business as usual
Interesting how there seems no mention here on Ryan Cohen (yep, the one from $GME) having bought a few shares and call options on $BBBY:
https://imgur.com/a/aHFOMxp
The company has said it aims to conclude its accelerated share-buyback program by the end of next month, two years ahead of schedule.
Have they done the buyback yet?
CFO payed as high as "prices ranging from $22.55 to $22.64"
Then you would think the buyback would be paying that as well.
The elephant in the room is the gap up. And the Bears have ammunition to keep pushing it down.
Direction Date range
up Nov-03-2021 16.805 to 19.2
There is also a Gap down.
down Sept-07-2021 26.9127 to 26.62
yep, my thoughts exactly
they could play both sides at anytime
and probably are
BBBY
Skeptical about Citron they really long? Or short?
Citron to stop publishing short-selling research, Andrew Left says | Financial Post
Citron to stop publishing short-selling research, Andrew Left says
'When we started Citron, it was to be against the establishment, but now we've actually become the establishment'
Author of the article:Reuters
Reuters
Publishing date:Jan 29, 2021 • January 29, 2021 • 2 minute re
Citron's Andrew Left says his firm covered most of its GameStop shorts at a 100% loss - and tells Reddit traders to pay taxes on their recent profits. Andrew Left said his Citron Capital fund covered most of its GameStop short positions at a 100% loss.Jan 27, 2021
Citron Research covered majority of GameStop short position in $90s/share. Citron Research said it covered majority of its GameStop (NYSE:GME) short in the $90s/share at loss of 100% , according to youtube video from Citron's Andrew Left.Jan 27, 2021
https://seekingalpha.com › news
Citron Research covered majority o
Citron Research, which was forced to close out its short position in GameStop amid a frenzy in retail buying, said Friday it will no longer publish short reports and instead will focus on long positions. ... "We will focus on giving long side multibagger opportunities for individual investors."Jan 29, 2021
https://www.cnbc.com › 2021/01/29
Citron Research, short seller caught up
BBBY...$22.39...Nice bounce Hedging bids at the open gap...:partying_face:
The Biggest Sale Bed Bath & Beyond Has Ever Had… on Its Own Stock
Is $BBBY taking a page out of the $RH Playbook?
On November 2, $BBBY announced that it was accelerating its $1 billion three-year share repurchase program to now be completed by the end of fiscal 2021. The last time we saw a buyback this aggressive and bullish was from Citron favorite RH when the co. announced a $700 million buyback authorization in May 2017 when the stock was trading at $52. Two months later, RH completed the buyback and you know the rest of the story.
While we are not suggesting that $BBBY is the next $RH… don’t tell that to Mark Tritton… who wants to be the next Gary Friedman.
There are clear parallels from this aggressive move by $BBBY with $RH four years ago.
1) Management and the BOD believe the stock is highly undervalued
2) This aggressive buyback shows there are no liquidity concerns
3) The shareholder structure is more concentrated than the market appreciates (e.g., 42% of $BBBY shares outstanding are held by the top 3 holders BlackRock, Fidelity, and Vanguard)
Analysts and investors can see in the latest $BBBY 10-Q filing that the company has completed the initial $600 million tranche of this buyback at an average price of $25 while repurchasing stock in tranches as high as $29 (i.e., 50% higher).
No one knows the intrinsic value of this company more than this board… same $RH argument and they believe the stock is undervalued even at $29.
Applying a 5x EBITDA multiple on 2024 EBITDA of $800 million to $1 billion we arrive at a price target of $50 to $70, so can see why management sees value here.
https://citronresearch.com/
Citron Research
@CitronResearch
$BBBY is on sale and the board knows it. Same setup as Citron favorite $RH was 3 years ago. While we are not suggestion this is the next $RH....the buyback has many similarities. For more detail. http://citronresearch.com. .
https://twitter.com/CitronResearch/status/1456653986048749575
Citron just came out bullish with a PT of $50 to $70 they say this is similar to RN when they exploded up!
Go BBBY!
why is $BBBY surging up now
BBBY: $30 next. Excellent investment here.
Count me in to hold this.
$BBBY
#BBBY
Top Meme Stock Mentions Money to Move 11/04/2021
$BBBY: $200M
Money to Move is a proprietary estimate of the total added monetary volume required to move a stock based on float liquidity and short percentage. Updated daily for high social interest stocks.
See more... https://gravityanalyticaresearch.com https://gravityanalytica.com
Very well written...thank you for the kind words...Have a Great Day...
Pretty simple ...don't buy any...Have a Great Day...
Closed under $20. Couldn’t hold gains at all.
Should have turned around and shorted....CHA-CHING!
Good for selling on the bump.
Do you mean Blood Bath and Beyond hahaha
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