On Friday, Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY), subtract -1.60% and closed at $44.34 in the last trading session. The last trading range of the stock ranges between $44.10 and $45.33. The company’s Market capitalization is $6.89 Billion with the total Outstanding Shares of 152.08 million. During the 52-week trading session the minimum price at which share price traded, registered at $41.15 and reached to max level of $61.49. Bed Bath & Beyond Inc. (BBBY) recently stated financial results for the second quarter of fiscal 2016 ended August 27, 2016.
Second Quarter Results
For the second quarter of fiscal 2016, the Company stated net earnings of $1.11 per diluted share ($167.3 million) contrast with $1.21 per diluted share ($201.7 million) for the second quarter of fiscal 2015. Net sales for the second quarter of fiscal 2016 were about $2.988 billion, a decrease of about 0.2% from net sales of about $2.995 billion stated in the second quarter of fiscal 2015. Comparable sales in the second quarter of fiscal 2016 reduced by about 1.2%, contrast with a boost of about 0.7% in last year’s fiscal second quarter. Comparable sales from customer-facing digital channels grew in excess of 20% while comparable sales from stores declined in the low single-digit percentage range during the second quarter of fiscal 2016.
The Company’s Board of Directors has declared a quarterly dividend of $.125 per share, to be paid on January 17, 2017 to shareholders of record as of the close of business on December 16, 2016.
During the second quarter of fiscal 2016, the Company repurchased about $121 million of its common stock, representing about 2.7 million shares, under its existing $2.5 billion share repurchase program. As of August 27, 2016, the program had a remaining balance of about $2.0 billion, and is expected to be accomplished in the latter half of fiscal 2019 or in fiscal 2020.
Fiscal 2016 Outlook
Bed Bath & Beyond Inc.’s conference call with analysts and shareholders will be held recently at 5:00 pm (ET). During this call, the Company plans to review its fiscal 2016 financial planning assumptions.
Kimco Realty Corp (NYSE:KIM), jumped 0.70% and closed at $27.89 in the last trading session. The last trading range of the stock ranges between $23.44 and $32.24. The company’s Market capitalization is $11.73 Billion with the total Outstanding Shares of 420.05 million. During the 52-week trading session the minimum price at which share price traded, registered at $23.44 and reached to max level of $32.24. Kimco Realty Corp. (NYSE: KIM) recently launched its fourth annual REIToon Cartoon Caption Contest. The contest challenges retail and real estate professionals to think up witty captions to complete two new cartoons from REIToons, Kimco’s popular blog series. Kimco will publish the cartoons and winning captions in its 2017 REIToons wall calendar, which will also feature the 10 best REIToons compiled from its award-winning blog. The two winners will each receive a $1,000 American Express gift card.
“The REIToons Cartoon Caption Contest is one of retail real estate’s most anticipated events of the year,” said Diane Agostinello, director of marketing and leasing services at Kimco Realty. “It gives real estate professionals the chance to apply their experience in a humorous manner and it’s a fun way to kick off the holiday shopping season.”
On the otherhand CBS Corporation (NYSE:CBS), dropped 1.76% and closed at $55.22 in the last trading session. The last trading range of the stock ranges between $54.91 and $56.79. The company’s Market capitalization is $24.07 Billion with the total Outstanding Shares of 406.87 million. During the 52-week trading session the minimum price at which share price traded, registered at $41.36 and reached to max level of $58.22. CBS Corporation (NYSE:CBS.A and CBS) recently declared that its radio business, CBS Radio Inc. (“CBS Radio”), has priced an offering of $400 million in aggregate principal amount of 7.25% senior unsecured notes due 2024. CBS also declared that CBS Radio has established pricing for a $1.06 billion senior secured term loan B facility maturing in 2023 at an interest rate of LIBOR plus 3.50%, with a LIBOR floor of 1.00%. The $1.46 billion debt financing to be effected through the issuance of the notes and the borrowing under the term loan are being made as part of CBS’s plans to separate its radio business.
The offering of the notes is expected to close on October 17, 2016, subject to customary closing conditions. The term loan is expected to be reached contemporaneously with the issuance of the notes, subject to completion of documentation and customary closing conditions.
CBS anticipates that substantially all of the net proceeds from both the notes and the term loan will be distributed to CBS. The remaining net proceeds not used for such distribution will be used by CBS Radio for general corporate purposes and ongoing cash needs.
CBS also declared that CBS Radio is expected to enter into a $250 million senior secured revolving credit facility maturing in 2021 simultaneously with the term loan, subject to the completion of documentation and customary closing conditions. The revolving facility is expected to be undrawn at the closing date and will be available to CBS Radio for general corporate purposes.