Banho de cama e além das opções de estoque de funcionários

Bed Bath & amp; Beyond Inc. Dividend Date & amp; História.
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Bed Bath & amp; Além de Sued para Shorting Overtime Pay.
Revendedor de bens domésticos Bed Bath & amp; Além disso (NASDAQ: BBBY) está sendo acusado de curar os salários dos funcionários, não pagando as horas extras trabalhadas. Os processos propostos de ação coletiva foram arquivados em Nova Jersey e em outros lugares.
De acordo com NJ, Bed Bath & amp; Além dos empregados remunerados sob um esquema de "OT flutuante" que os penalizou reduzindo sua taxa de horas extras por hora, mais horas trabalhavam. O processo alega a fórmula que o varejista usou dividiu o salário base semanal de um empregado por todas as horas que trabalhavam, reduziu-o pela metade e multiplicou-o pelo número de horas durante mais de 40 horas que foram trabalhadas. Afirma que, embora os funcionários estejam assalariados, eles realmente desempenham os mesmos deveres que os trabalhadores horários da empresa.
Um dos empregados que processavam o varejista recebeu anualmente um salário de US $ 65.000, mas seus deveres também exigiam que ele descarregasse frete, comercializasse mercadorias, ajudasse clientes, servisse como caixa e outras tarefas, assim como os trabalhadores horários supervisionados.
Em outro processo, os gerentes de departamento e os gerentes de assistente também receberam indevidamente menos dinheiro por horas extras trabalhadas do que eram devidas porque Bed Bath & amp; Além disso, aplicou erroneamente um requisito de "semana de trabalho flutuante", apesar de seus horários permanecerem praticamente inalterados.
De acordo com o entendimento, as empresas podem usar uma fórmula FWW com funcionários cujos horários mudam de semana para semana, na medida em que são pagos salários que atendem às leis de salário mínimo, mas ganham um salário mínimo de 50% (ou seja, tempo e meio) por horas trabalhadas por mais de 50 horas por semana. No entanto, os empregadores prejudicados dizem que seus horários foram em grande parte inalterados, e que eles trabalharam 11 ou 12 horas por dia, dependendo de sua mudança, resultando em um trabalho de 47 a 50 horas por semana. Isso deveria ter autorizado os trabalhadores a pagar as horas extras além das 40 horas trabalhadas, mas Bed Bath & amp; Além disso, usou a fórmula FWW em vez disso para evitar pagar as taxas mais elevadas.
O processo também exige que os gerentes de assistente fossem classificados ilegalmente como empregados "isentos", o que significa que eles não receberam um pagamento de horas extras.
Os demandantes nos vários casos estão buscando o pagamento de horas extras não remunerado, danos e várias taxas.
10 estoques que gostamos melhor do que Bed Bath and Beyond.
Ao investir gênios, David e Tom Gardner têm uma dica de estoque, pode pagar para ouvir. Afinal, o boletim informativo que executaram durante mais de uma década, Motley Fool Stock Advisor, triplicou o mercado. *
David e Tom apenas revelaram o que acreditam serem as 10 melhores ações para que os investidores compram agora. e Bed Bath and Beyond não era um deles! Isso mesmo - eles pensam que esses 10 estoques são ainda melhores comprados.
* Retorno do Conselheiro de ações a partir de 7 de novembro de 2018.
Rich Duprey não tem posição em nenhum estoque mencionado.

Responsabilidade corporativa.
Relatório de Responsabilidade Corporativa 2018.
(Incluindo divulgações sob a Lei de Transparência na Cadeia de Fornecimento da Califórnia de 2018)
Índice.
I. Introdução.
Além disso, a Companhia é parceira de uma joint venture que opera lojas de varejo no México sob o nome Bed Bath & Beyond. A Companhia opera vários canais de varejo, incluindo lojas de varejo nos Estados Unidos, Porto Rico e Canadá, e vários sites e aplicativos, incluindo bedbathandbeyond, bedbathandbeyond. ca, worldmarket, buybuybaby, buybuybaby. ca, christmastreeshops, harmondiscount, ofakind, onekingslane, personalizationmall , chefcentral, decorista, porto e t-ygroup.
As referências contidas neste relatório para "Bed Bath & Beyond Inc." ou "a Empresa" referem-se à empresa como um todo ou, dependendo do contexto, à entidade-mãe na sua capacidade corporativa, enquanto as referências a uma marca individual (Bed Bath E além, lojas de árvores de natal, lojas de árvores de natal e isso! Ou andThat !, Harmon, Harmon Face Values ​​ou Face Values, buybuy BABY e World Market, Cost Plus World Market ou Cost Plus, de um tipo, One Kings Lane, PersonalizationMall, Chef Central, Decorista) discutem temas específicos dessa marca individual. Uma vez que as lojas domésticas Bed Bath & Beyond constituem a grande maioria dos locais e atividades da Companhia, na ausência de uma designação específica indicando o contrário, esses materiais devem ser lidos como aplicando-se às operações dos EUA de Bed Bath & Beyond e bedbathandbeyond.
A Companhia analisou várias metodologias para relatórios de sustentabilidade na coleta de informações e desenvolvimento deste relatório de responsabilidade corporativa, embora nenhum conjunto único de protocolos tenha sido adotado exclusivamente.
Os relatórios de responsabilidade corporativa dos anos anteriores estão disponíveis para revisão no site da Companhia, na página de destino da Responsabilidade Corporativa.
Desde a nossa criação em 1971, a Bed Bath & Beyond dedicou-se a ser uma entidade corporativa responsável nos mercados que servimos oferecendo mercadorias atraentes e cada vez mais diferenciadas a preços competitivos, apoiadas por um excepcional serviço ao cliente. Além desses princípios fundamentais, a Companhia muitas vezes demonstrou seu compromisso de ser uma força econômica positiva, um cidadão responsável nas comunidades que servimos e um administrador consciente dos recursos que consumimos. Nós informamos nossos acionistas e clientes de nosso compromisso em relatórios anuais e declarações de procuração de exercícios anteriores, em vários locais em nosso site e nos relatórios de responsabilidade corporativa dos anos anteriores. Enquanto estamos orgulhosos de nossas realizações até à data, como com tudo o que fazemos, nunca estamos satisfeitos. Continuaremos a lidar com a melhoria.
Este relatório pode conter declarações prospectivas. Muitas dessas declarações prospectivas podem ser identificadas pelo uso de palavras como, maio, esperam, antecipam, aproximam, estimam, assumem, continuam, modelam, projetam, planejam, e palavras e frases similares. Os resultados reais da Companhia e a futura condição financeira podem diferir materialmente daqueles expressados ​​em tais declarações prospectivas como resultado de muitos fatores. Tais fatores incluem, sem limitação: condições econômicas gerais, incluindo o mercado imobiliário, um ambiente macroeconômico global desafiador e mudanças relacionadas no ambiente varejista; preferências dos consumidores, hábitos de consumo e adoção de novas tecnologias; dados demográficos e outros fatores macroeconômicos que podem afetar o nível de gastos para os tipos de mercadorias vendidos pela Companhia; distúrbios civis e atos terroristas; padrões climáticos incomuns e desastres naturais; concorrência de concorrentes existentes e potenciais; concorrência de outros canais de distribuição; pressões de preços; liquidez; a capacidade de atrair e manter empregados qualificados em todas as áreas da organização; o custo de mão-de-obra, mercadorias e outros custos e despesas; perturbação potencial da cadeia de suprimento devido a restrições comerciais, instabilidade política, distúrbios trabalhistas, recall de produtos, instabilidade financeira ou operacional de fornecedores ou transportadores e outros itens; a capacidade de encontrar locais adequados em custos de ocupação aceitáveis ​​e outros termos para apoiar os planos da Companhia para novas lojas; a capacidade de avaliar e implementar tecnologias em apoio ao desenvolvimento da empresa de suas capacidades de omnichannel; a capacidade de estabelecer e manter lucrativamente a combinação adequada de presença digital e física nos mercados a que serve; incerteza nos mercados financeiros; interrupções nos sistemas de tecnologia da informação da Companhia, incluindo, entre outras, brechas de segurança de sistemas que protegem a informação dos consumidores e dos funcionários; risco de reputação decorrente de desafios à conformidade da Companhia ou do fornecedor de terceiros com várias leis, regulamentos ou padrões, incluindo aqueles relacionados ao trabalho, saúde, segurança, privacidade ou meio ambiente; risco de reputação decorrente de desempenho de fornecedor de mercadorias ou de serviços de terceiros em entrega domiciliar direta ou montagem de produto para clientes; mudanças nos requisitos legais, regulamentares e legais, incluindo, sem limitação, alterações propostas que afetam o comércio internacional; mudanças ou novas leis tributárias ou interpretação das leis tributárias existentes, incluindo, sem limitação, o imposto de ajuste de fronteira proposto; novos ou desenvolvimentos em processos, litígios, reclamações ou avaliações existentes; mudanças ou novos padrões contábeis; flutuações da taxa de câmbio em moeda estrangeira; e a integração de negócios adquiridos. A Companhia não assume nenhuma obrigação de atualizar suas declarações prospectivas.
Se você tiver algum comentário ou sugestão em relação a este relatório, sinta-se à vontade para entrar em contato com corporateresponsibility @ bedbath, onde serão considerados, agindo se apropriado e, em todos os casos, apreciado.
II. Governança.
A Bed Bath & Beyond Inc. foi fundada em 1971 e se tornou uma empresa pública em 1992. As ações da Bed Bath & Beyond Inc. são negociadas no NASDAQ Global Select Market sob o símbolo "BBBY".
Missão / Visão.
A missão da empresa é confiar por seus clientes como especialista em eventos de vida relacionados com o lar e o coração. Estes incluem certos eventos da vida que evocam fortes conexões emocionais, como casar-se, mudar para uma nova casa, ter um bebê, ir para a faculdade e decorar uma sala, que a empresa apoia através de seus registros de casamento e bebê, novos motores e programas de vida estudantil , e seus serviços de consultoria de design. A estratégia da empresa baseia-se na construção e entrega de uma base sólida de produtos diferenciados, serviços e soluções, ao mesmo tempo que impulsiona a excelência operacional.
Bed Bath & Beyond's centrada no cliente e cultura de alto desempenho inspira os nossos associados a fazer o que for necessário para satisfazer o cliente. A Empresa está comprometida com o mais alto nível de atendimento ao cliente para superar as expectativas dos clientes e proporcionar uma experiência de compra significativamente melhor. Nunca nos sentimos satisfeitos e nos esforçamos para sermos os melhores para oferecer aos nossos clientes produtos, serviços e soluções diferenciados com o valor certo.
Através de nossas crescentes capacidades de análise e estratégia de marketing direcionada personalizada, a Companhia busca compreender de forma mais eficiente e efetiva as necessidades e desejos de seus clientes ao percorrer vários estágios de vida e expressar interesses de vida. A Companhia oferece uma extensa seleção de mercadorias domésticas de alta qualidade e mobiliário doméstico em todos os canais, conceitos e países em que atuamos e nos esforçamos para proporcionar uma experiência de compra visivelmente melhor através dos melhores serviços e soluções.
A integração da loja de varejo e dos canais digitais voltados para clientes permite que a Companhia ofereça aos seus clientes uma experiência de compra contínua de omnichannel. As compras na loja são principalmente cumpridas no estoque daquela loja, ou também podem ser enviadas para um cliente de uma das instalações de distribuição da Companhia, de um fornecedor ou de outra loja. As compras on-line, incluindo a web e o celular, podem ser enviadas para um cliente das instalações de distribuição da Companhia, diretamente de fornecedores ou de uma loja. Os clientes da Companhia também podem optar por buscar pedidos on-line em uma loja, além de retornar compras online para uma loja. Os clientes também podem fazer compras on-line através de um dos centros de contatos do cliente da empresa e na loja através da The Beyond Store, uma plataforma interna baseada na web. Esses recursos permitem que a Companhia atenda melhor os clientes em vários canais.
Concentrando-se na missão da Companhia e permanecendo fundamentada em sua cultura centrada no cliente, além de manter uma forte disciplina financeira, a Companhia acredita que fortalecerá sua posição como a primeira escolha do cliente para os eventos de vida relacionados com o lar e o coração e continuará a alcançar longo - sucesso.
A. Estrutura de Governança da Organização.
A Companhia lista seus Diretores e Diretores na seção de Relações com Investidores de seu site em bedbathandbeyond. O Conselho de Administração é constituído por três membros executivos e sete membros independentes.
Diretor Independência.
O Conselho de Administração, sob recomendação do Comitê de Nomeação e Governança Corporativa, determinou que cada uma das Sra. Morrison, Sra. Elliott e os Srs. Adler, Barshay, Eppler, Gaston e Heller são "diretores independentes" nos padrões de independência estabelecidos adiante no NASDAQ Listing Rule 5605 (a) (2). A diretora Geraldine T. Elliott, cujo termo expira na conclusão da Reunião Anual de Sharehodlers de 2017 e que não está em posição de reeleição, também foi determinada a ser independente. Esta determinação baseou-se no fato de que cada um desses diretores não é um executivo ou funcionário da Companhia ou possui qualquer outra relação que, na opinião do Conselho de Administração, interfira no exercício de julgamento independente na execução do responsabilidades de um diretor.
Mais informações estão disponíveis na Declaração de Proxy 2017 da Companhia, na seção Diretor Independência (página 11).
Os diretores executivos da Companhia são eleitos pelo Conselho de Administração por prazo de um ano e servem a critério do Conselho de Administração. Não existem relações familiares entre nenhum dos diretores executivos ou diretores da Companhia.
Os co-presidentes Warren Eisenberg e Leonard Feinstein, fundadores da Bed Bath & Beyond Inc. e do diretor executivo Steven Temares, são diretores, além de serem membros do Conselho de Administração.
Comitês.
Comitês e documentos de governança, incluindo cartas de comitê, estão listados no site de relações com investidores da Companhia, incluindo os seguintes documentos:
Documentos do Comitê.
Documentos de Governança.
Informações sobre os Comitês do Conselho.
Todos os membros dos Comitês de Auditoria, Remuneração e Nomeação e Governança Corporativa são considerados independentes de acordo com as regras aplicáveis ​​da Securities and Exchange Commission ("SEC") e NASDAQ. Nenhum dos membros do Comitê de Remuneração foi (i) durante o exercício de 2018, um funcionário ou funcionário da Companhia ou de qualquer das suas subsidiárias ou (ii) anteriormente um funcionário da Companhia ou de qualquer das suas subsidiárias. Atualmente, nenhum dos nossos diretores executivos atua, ou no exercício de 2018, como membro do conselho de administração ou comissão de remuneração de qualquer entidade que tenha um ou mais diretores no nosso Conselho de Administração ou Comitê de Remuneração.
Estrutura de liderança.
Os Srs. Eisenberg, Feinstein e Temares funcionam juntos como líderes seniores da Companhia. Uma vez que os Srs. Eisenberg, Feinstein e Temares não são "diretores independentes", na acepção da Lei 5605 (a) (2) da NASDAQ, o Conselho de Diretores nomeou um diretor independente para atuar como Diretor-chefe externo. O Sr. Eppler atuou como Diretor-chefe externo desde 2002. A autoridade e as responsabilidades gerais do Diretor-chefe externo são estabelecidas pelo Conselho de Administração. Nessa qualidade, o Sr. Eppler preside todas as sessões executivas dos diretores independentes, tem autoridade para convocar reuniões de diretores independentes, atua como uma ligação entre os membros do Conselho e a administração, funções de Secretário do Conselho (inclusive com respeito à proposta e manutenção das agendas e cronogramas do conselho para reuniões), providencia funções do comitê do Conselho e atua como Secretário de todos os comitês do Conselho e recebe comunicações dos acionistas da Companhia.
B. Políticas, Diretrizes e Práticas.
Diretrizes de Governança Corporativa.
Este documento inclui as políticas de administração da Companhia, as responsabilidades do Conselho de Administração, as reuniões e materiais do Conselho de Administração, os comitês do Conselho e as comunicações dos acionistas com o Conselho.
A política geral da Diretoria, com base na experiência, é que os cargos de Presidente do Conselho de Administração e Diretor Executivo devem ser detidos por pessoas separadas. O Conselho de Administração pode, a seu critério, nomear Co-Presidentes, cada um dos quais pode exercer os poderes plenos e as autoridades do cargo de Presidente.
Os membros do Conselho de Administração atuam em todos os momentos de acordo com os requisitos da Política de Padrões Éticos de Conduta Empresarial da Companhia, que é aplicável a cada diretor em conexão com suas atividades relacionadas à Companhia. Esta obrigação deve, em todos os momentos, incluir, sem limitação, a adesão às políticas da Companhia em relação a conflitos de interesses, confidencialidade, proteção dos ativos da Companhia, conduta ética em negócios e respeito e cumprimento da lei aplicável. Qualquer renúncia aos requisitos da Política de Padrões Éticos para Conduta Comercial com relação a qualquer diretor individual deve ser reportada e estar sujeita à aprovação do Conselho de Administração.
Processos para avaliação do Conselho de Administração.
Critérios de Associação.
O Conselho adotou uma política de qualificações específicas e mínimas para potenciais diretores. Esses fatores e outros, considerados úteis pelo Conselho de Administração e pelo Comitê de Nomeação e Governança Corporativa, são revisados ​​no contexto de uma avaliação das necessidades percebidas do Conselho em um determinado momento. Recomenda-se que os membros do conselho se preparem, participem e participem de todas as reuniões do Conselho e do Comitê aplicável. Espera-se que cada membro do Conselho assegure que outros compromissos futuros existentes e planejados não interfiram materialmente com o serviço do membro como diretor. Estes outros compromissos serão considerados pelo Comitê de Nomeação e Governança Corporativa e o Conselho de Administração ao rever os candidatos do Conselho de Administração.
Seleção do novo Diretor Candidatos.
Através da política adotada pelo Conselho em relação ao processo de identificação e avaliação de nomeados dos diretores, o Comitê de Nomeação e Governança Corporativa identifica os indivíduos qualificados para se tornarem membros do Conselho e considera, avalia e recomenda que os candidatos da seleção do Conselho preencham cargos no Conselho. O Conselho de Administração deve dar uma devida consideração à recomendação do Comitê na seleção da lista dos diretores para serem eleitos pelos acionistas da Companhia.
Filosofia e Objetivos de Compensação.
Nossos programas de remuneração são determinados pelo Comitê de Remuneração do Conselho de Administração, com a assistência de um consultor independente. Os principais objetivos do programa de remuneração do executivo da Companhia são:
Alinhar recompensas com desempenho que melhora o valor do acionista, pesando forte compensação com patrimônio; Retirar uma equipe executiva que impulsiona o sucesso a longo prazo da Companhia; Apoiar a forte orientação da equipe da equipe; Atrair executivos talentosos adicionais, conforme necessário, e incentivar os jogadores de equipe de alto potencial a construir uma carreira na Companhia; e Fornecer recompensas financeiras e incentivos que sejam competitivos com outras organizações e justos para funcionários e acionistas.
A Companhia acredita que um fator chave em seu sucesso até o momento foi a estabilidade de sua equipe executiva. O mandato médio de nossos diretores executivos é de aproximadamente 34 anos, o que criou uma equipe executiva muito coesa, liderada por nosso diretor-presidente Steven Temares, que possui profundo conhecimento da Companhia, bem como a profundidade e amplitude de experiência para navegar no futuro - evoluindo e mudando radicalmente a paisagem de varejo. A montagem e retenção desta equipe executiva e sua abordagem baseada em equipe também contribuíram para a forte cultura corporativa da Companhia para pensar a longo prazo e fazer o que for necessário para satisfazer um cliente. Para esse fim, a política da Companhia é buscar, sempre que possível, em todos os níveis, promover de dentro e fazer mudanças de programa de compensação de forma gradual para compensar os executivos de forma a promover o sucesso a longo prazo da organização também para manter um nível de estabilidade. A remuneração fortemente ponderada em relação aos prêmios de equivalência patrimonial que ganham mais de três a cinco anos também apóia essa estabilidade.
Os programas de remuneração da Companhia não incluem bônus de caixa anual e alocam a maioria da remuneração de cada executivo para prêmios de equivalência de longo prazo e remuneração baseada em desempenho. O Comitê de Remuneração acredita firmemente que os bônus anuais em dinheiro promovem o pensamento de curto prazo e estão em contraste direto com a cultura Bed Bath & Beyond, que está enraizada em um compromisso com o atendimento ao cliente e o desejo de alcançar um sucesso a longo prazo. O Comitê acredita que pagar um salário de base justo e colocar todas as outras compensações sob a forma de prêmios de equivalência de longo prazo e remuneração baseada em desempenho cria alinhamento com o objetivo da Companhia e dos acionistas de gerir a gerência para continuar a aumentar o valor do acionista no longo prazo .
A Companhia acredita que suas políticas, planos e programas de remuneração não têm nenhum efeito adverso relevante no risco corporativo da empresa.
Informações adicionais estão disponíveis na seção "Compensação Executiva" na Declaração de Proxy da Empresa 2017. (pág. 18 e seguintes). Esta discussão inclui detalhes significativos sobre mudanças no programa de Compensação Executiva implementado para o exercício de 2018 e fiscal 2017, após o envolvimento significativo com os acionistas.
Gerenciamento de riscos.
O Conselho recebe, pelo menos anualmente, um relatório sobre os riscos materiais enfrentados pela Companhia, cujos riscos são identificados através do processo de Gerenciamento de Riscos Empresariais ("ERM") da Empresa. Este relatório é apresentado ao Conselho por um comitê de executivos-chave que representa legal, de conformidade, finanças e auditoria interna e resulta de um processo formal em que os membros do comitê se reúnem com executivos de cada função de negócio principal para identificar e avaliar os riscos significativos em cada uma dessas áreas de responsabilidade da empresa. O comitê então analisa com esses executivos quais os esforços de mitigação de risco que estão ou devem estar em vigor para eliminar ou reduzir esses riscos em níveis aceitáveis, sempre que possível, e depois se envolver nesses assuntos com o Conselho de Administração completo. No relatório anual do ERM, as áreas de risco e os esforços de mitigação analisados ​​com a Diretoria em pleno, em prol das suas responsabilidades de supervisão, geralmente incluem: riscos comerciais gerais, como forças econômicas, concorrência e clima; riscos relacionados ao emprego, tais como recrutamento e retenção, sucessão, custos trabalhistas e relações associadas; riscos de segurança de dados em relação aos dados da empresa, associado e do cliente; riscos de conformidade associados à gama de sistemas legais, contábeis, fiscais e de relatórios financeiros sob os quais a Companhia opera; riscos da cadeia de abastecimento, incluindo interrupções decorrentes de instabilidade política ou perturbações do trabalho, estabilidade financeira do fornecedor e conformidade legal; e conformidade com uma variedade de padrões de produtos, trabalho, sociais e ambientais. O Conselho de Administração é atualizado sobre certos riscos com mais freqüência do que anualmente, mediante solicitação ou como os desenvolvimentos justificam.
O processo do ERM e o relatório ao Conselho de Administração da Companhia também informam a divulgação mais detalhada do Fator de Risco no relatório anual da Companhia no Formulário 10-K, arquivado na Securities and Exchange Commission.
Código de conduta.
É a política da Bed Bath & Beyond Inc. realizar todas as transações comerciais de acordo com os mais altos padrões éticos. A Política de Normas Éticas para a Conduta Empresarial da Empresa estabelece os padrões éticos, todos os associados (incluindo todos os oficiais) e os membros do conselho de administração deverão cumprir quando atuarem em nome da Companhia.
Esta política inclui nossas políticas sobre ética e conduta de negócios, conflitos de interesse, padrões de honestidade associada, uso de propriedade da empresa, privacidade e informações confidenciais.
Compromissos com Iniciativas Externas.
Bed Bath & Beyond Inc. é membro da National Retail Federation e do Retail Council of Canada. Essas associações são recursos valiosos, permitindo que a organização continue informada sobre os desenvolvimentos que afetam o setor varejista em várias áreas funcionais.
Políticas contábeis críticas.
A preparação de demonstrações financeiras consolidadas em conformidade com os Princípios Contábeis Geralmente Aceitos (GAAP) exige que a Companhia estabeleça políticas contábeis e faça estimativas e julgamentos que afetem os valores relatados de ativos e passivos e a divulgação de ativos e passivos contingentes a partir da data de as demonstrações financeiras consolidadas e os valores reportados de receitas e despesas durante o período de relatório. A Companhia descreve essas políticas em seu Relatório Anual de 2018 sob Políticas Contábeis Críticas. (pág. 67 e seguintes).
C. Participação das partes interessadas.
Política sobre as comunicações dos acionistas com a Diretoria.
O Conselho acolhe comunicações dos acionistas da Companhia. Os acionistas podem se comunicar diretamente ao Conselho de Administração, ou a qualquer diretor particular, enviando uma carta ao Diretor-chefe com um endereço fornecido nas Políticas de Comunicação de Acionistas. Os comentários e perguntas feitas pelos acionistas são regularmente revisados ​​e tomados em consideração para as decisões em relação às políticas corporativas ou ao processo, a fim de alcançar a excelência operacional.
O departamento de Relações com Investidores da Companhia também se comunica regularmente com os acionistas.
Associados.
A Empresa se comunica com seus associados regularmente através de uma série de formatos de comunicação internos, geralmente incluindo reuniões diárias de lojas, além de postagens intranet. Os tópicos comunicados incluem informações sobre empresas, treinamento, merchandising e recursos humanos e políticas e procedimentos de atendimento ao cliente. Todos os associados são treinados na filosofia da empresa de honestidade intelectual, tomando posse de decisões, relatando qualquer comportamento antiético e admitindo erros ou problemas, e eles são encorajados a se comunicar livremente sob uma política de porta aberta. Os Associados também podem usar uma linha direta anônima para reportar problemas questionáveis ​​ou de roubo. Os comentários e as perguntas dos associados são encorajados e considerados nos nossos esforços contínuos para refinar e melhorar as políticas e / ou processos operacionais e corporativos.
A Companhia busca melhorar e expandir continuamente as comunicações com nossos clientes. Os clientes podem se comunicar com a Empresa por contato direto com os associados da loja, usando o número de serviço de atendimento gratuito e usando o e-mail disponível através dos canais digitais voltados para o cliente da Companhia, incluindo bedbathandbeyond, bedbathandbeyond. ca, worldmarket, buybuybaby, buybuybaby. ca , christmastreeshops, harmondiscount, ofakind, onekingslane, personalizationmall, chefcentral, decorista, harborlinen, t-ygroup. Os sites Bed Bath & Beyond, buybuy BABY e World Market, Cost Plus World Market e Cost Plus também aceitam avaliações de clientes de produtos específicos. Além disso, Bed Bath & Beyond, compre o BABY, o Mercado Mundial Cost Plus, as lojas de árvores de natal e isso !, Harmon Face Values, de um tipo, One Kings Lane e PersonalizationMall e Decorist mantêm páginas do Facebook, e Bed Bath & Beyond, buybuy BABY , O Mercado de Cost Plus World, de um tipo, One Kings Lane, PersonalizationMall e Decorist mantêm as contas do Twitter. Os clientes se envolvem por meio desses canais em todos os assuntos, incluindo questões de mercadorias e pedidos, ou perguntas ou comentários sobre filosofia corporativa. Os comentários e perguntas dos clientes são revisados ​​diariamente pela gerência sênior e são considerados ao tomar decisões com respeito a políticas ou processos de lojas e corporativos.
III. Responsabilidade econômica.
A Bed Bath & Beyond Inc. detalhou o seu recente desempenho financeiro no Relatório Anual de 2018, conforme detalhado no resumo dos dados financeiros consolidados.
Continuamos disciplinados em nossos esforços para obter retornos positivos e melhorar a rentabilidade a longo prazo. Nossos fluxos de caixa saudáveis ​​e um balanço sólido, nos permitem financiar nossos investimentos e desenvolver nossas conquistas operacionais, ao mesmo tempo em que devolvemos valor aos nossos acionistas.
Em reconhecimento à nossa forte geração de fluxo de caixa e confiança nos nossos negócios, além de oferecer uma abordagem mais equilibrada ao retorno do valor aos acionistas, nosso Conselho autorizou o primeiro programa de dividendos da Companhia em abril de 2018. Além do dividendo, nós continuar a devolver valor aos acionistas através da recompra de ações. Em fevereiro de 2017, a Companhia empregava quase 65 mil associados em cargos de tempo integral e de meio período. Nossos associados são a conexão principal entre nossa empresa e nossos clientes. A sua criatividade e inovação foram uma das principais razões para o sucesso dos programas destinados a sustentar a nossa missão de responsabilidade corporativa. Nossos associados continuam sendo o nosso bem mais valioso.
IV. Responsabilidade social.
Uma comunidade.
Bed Bath & Beyond Inc. está empenhada em ser um bom vizinho, assegurando que devolvamos as comunidades que atendemos. Na nossa cultura descentralizada, os gerentes locais estão habilitados a apoiar eventos locais e a fazê-lo em uma base frequente. Além disso, a Companhia tem uma série de relacionamentos através dos quais podemos nos envolver para servir nossos clientes e outros nas áreas em que fazemos negócios.
Em 2001, a Bed Bath & Beyond, Inc. formou uma parceria com a Good360 (anteriormente conhecida como Gifts In Kind International), uma organização sem fins lucrativos com sede em Alexandria, Virgínia, que nos permitiu fornecer doações de produtos aos mais necessitados.
Nos últimos dezessete anos, trabalhamos com o Good360 para combinar cada uma de nossas lojas de varejo com uma instituição de caridade local de 501 (c) (3). A mercadoria é doada semanalmente em nossas lojas para centenas de instituições de caridade locais nos Estados Unidos, Canadá e Porto Rico. As doações de mercadorias fornecem alívio e assistência a muitas pessoas em situações difíceis, como vítimas de desastres naturais, necessidades de moradias de transição para famílias em crise, jovens em situações de baixa renda e apoio a pessoas com deficiências físicas e físicas.
Em 2008, uma de nossas subsidiárias, buybuy BABY, também se juntou à parceria.
Para o ano fiscal de 2018, estimamos que o valor justo de nossas doações de produtos foi de mais de US $ 187 milhões. Até o momento, estimamos que fornecemos mais de US $ 1,38 bilhão em doações de produtos para nossas comunidades locais. A Companhia foi reconhecida pela Good360 como vencedora do Prêmio Light of Hope. Este prêmio reconhece corporações para uma cidadania corporativa excepcional e uma filantropia efetiva de produtos. Em 5 de janeiro de 2017, Good360 apresentou o Prêmio 2019 do Círculo de Bom Prêmio pela Inovação Filantrópica Destaque para a equipe Bed Bath & Beyond que administra esse programa de doação, observando que mais de 700 organizações sem fins lucrativos eram beneficiárias do programa em 2018.
Mulheres saudáveis.
Em um esforço para promover um estilo de vida saudável para as mulheres e suas famílias, a Bed Bath & Beyond Inc. fez parceria com HealthyWomen (anteriormente Centro Nacional de Recursos de Saúde da Mulher) desde 2004. HealthyWomen tornou-se a principal fonte de informação de saúde independente do país para as mulheres que fornecem informações imparciais e informações de saúde precisas por mais de 20 anos. Utilizing the various customer-facing digital channels available at Bed Bath & Beyond, buybuy BABY and Harmon Face Values, we are happy to provide our customers access to a broad assortment of valuable and reliable health information for themselves and their families supplied by HealthyWomen while promoting a healthy lifestyle. Content from HealthyWomen is also available on the Company’s harmonfacevalues website.
Head Injury Association.
The Company is a supporting partner of The Head Injury Association (“HIA”), an independent, non-profit agency widely recognized for its innovative programming for survivors of head injury and their families, based in Hauppauge, New York. The HIA offers support services to traumatic brain injury survivors and their families through clinical treatment, as well as vocational, educational, cultural, and recreational experiences that help survivors adapt to the daily challenges of life. In addition, the HIA provides the necessary residential programs to help traumatic brain injury survivors achieve four valued outcomes: Individualization, Independence, Integration, and Productivity. The Company assists the HIA in its annual fundraising activities.
Armed Forces & Military Appreciation Offer.
Bed Bath & Beyond Inc. across the company honors the service of our U. S. Armed Forces, Active Duty, Retired, Veterans and their families by offering a 20% off entire purchase offer on Veteran’s Day. This event is just one, small way to express our gratitude.
Compassionate Care Movement (LAUNCHING 2017)
The compassionate care movement is all about recognizing and appreciating the caregivers who care for new moms and their little ones.
Together, buybuy BABY and Wambi will create a service called carepostcard, which enables prenatals and new parents to care for the caregivers who care for all of us. At carepostcard, people will have the opportunity to send digital "postcards" expressing their gratitude to their caregivers, who could include OBs, nurses, night nurses, nannies, day care providers, etc. These postcards will be shared with the caregivers, as well as serve as a resource for others to find highly regarded caregivers in their local communities.
About Wambi: Wambi is a digital healthcare employee recognition platform fueled by real-time patient feedback. Wambi improves patient satisfaction and safety through enabling real-time service recovery, rewarding staff engagement, and increasing patient involvement.
B. Product and Vendors.
Environmentally Conscious Assortment Offerings.
As a Company, we recognize that our customers desire an assortment of environmentally conscious products made from sustainable, recycled, repurposed, and organic materials and products having energy saving properties. Customers who are interested in purchasing these types of products will be happy to find them in our various concepts as detailed below. Consistent with our customer-centric culture, we continue to explore additional opportunities to satisfy customer needs in this area.
Bed Bath & Além.
Bed Bath & Beyond offers products made from sustainable, recycled, repurposed, and organic materials and products having energy saving properties in a number of product categories such as cleaning, bedding, bath, kitchen, and window.
Bed Bath & Beyond offers a broad array of non-toxic cleaning products that are free of PVC, formaldehyde, parabens, phosphates, and chlorine, among other chemicals. Plant based cleaning products that are non-toxic, biodegradable, and free of genetically modified organisms and volatile organic compounds are also available. Examples of textile offerings made from renewable materials are 100% organic cotton towels and sheets. Bamboo, a fast growing renewable resource, is used in bath furniture, bath accessories, placemats, cutting boards, utensils, serve ware, and snack tables. Customers can also choose from a growing assortment of organic teas, coffees, juices, pastas, and snack foods.
Energy saving products have become increasingly important choices for our customers. Included in our offerings are window treatments with insulating properties under the Insola brand and others. These products are identified with the e²symbol, our designation for products that could create energy savings for our customers. All shower heads in the current in-store assortment have a maximum flow rate of 2.0 gallons per minute which helps reduce water consumption.
buybuy BABY.
buybuy BABY offers a variety of organic products. The assortment includes layette and bedding made of organic cotton, organic fiber plush toys, as well as organic cotton towels and washcloths. buybuy BABY also offers mattresses made with organic materials and a number of GREENGUARD certified mattresses and cribs. Products bearing the GREENGUARD mark are certified by an independent third-party organization as having low emissions of volatile organic compounds. Customers can also choose from an assortment of organic baby food options and natural cleaning products.
Christmas Tree Shops, Christmas Tree Shops andThat!, andThat!
Within the constantly changing merchandise selection at Christmas Tree Shops, Christmas Tree Shops andThat!, and andThat!, customers have been presented with energy saving items such as insulated window treatments, door and window insulation kits, and weather stripping. In season, the selection has also included items such as outdoor solar lighting and solar driveway markers. A selection of bamboo cutting boards and other housewares, as well as a wide selection of natural woven products, such as baskets made of sea grass, bamboo and straw, are regularly offered.
Harmon, Harmon Face Values.
Harmon and Harmon Face Values carry lines of natural and organic products. These types of products are available in a variety of product categories including household cleaning products, baby personal care products for the skin (including diaper rash creams and lotions), shampoo, as well as an abundance of adult personal care products.
World Market, Cost Plus World Market, Cost Plus.
World Market, Cost Plus World Market, and Cost Plus offer customers a broad selection of unique, authentic and affordable products sourced from over 50 countries in Europe, Asia, North and South America, Africa and Australia. Certain products are handcrafted by local artisans using recycled materials. Current examples of such products include Chindi Rugs from India that are hand woven from reclaimed silk and chiffon Sari fabric, as well as, woven dhurrie PET Rugs from India that are made from recycled plastic bottles spun into yarn and then dyed. Additionally, World Market, Cost Plus World Market, and Cost Plus offer collectible bowls, candleholders, jewelry boxes, and animal and shape decorative pieces that are hand carved out of Kisii Soapstone found in Western Kenya.
Of a Kind has worked with over 350 up-and-coming makers of clothing, jewelry and home goods, the vast majority of whom are based in the United States. Many of the pieces available on the site are handmade, sustainably produced, and/or made of recycled, organic, and ethically sourced materials, and the stories of the designers behind the products are shared alongside their work.
Product - Quality & Segurança.
At Bed Bath & Beyond Inc., we choose our vendor partners carefully, knowing the importance of responsibly managed factories, production, material choices, and output. In addition to requiring safe and compliant merchandise, we require vendors to comply with industry safety standards, company product standards, and our Code of Conduct.
Product Testing.
Bed Bath & Beyond Inc. is committed to providing its customers with safe, high quality products. In order to achieve this goal, through our partnerships with accredited, world-wide, independent testing laboratories, the Company maintains a Quality Assurance Testing Program (“Testing Program”). We require that all imported and private label products meet the standards of our Testing Program. We have established extensive test protocols to evaluate product for compliance with applicable regulations, industry safety standards, and company product standards. We continually review, refine, and update our Testing Program. All of the details provided herein regarding the Testing Program are at a minimum followed by the Bed Bath & Beyond and buybuy BABY for imported and private label products, and Harmon, Harmon Face Values for imported products.
Vendors are required to review and acknowledge compliance with the requirements set forth in our Quality Assurance Manuals and Vendor Compliance Guides. All products must comply with applicable U. S. and international laws, rules, guidelines and regulations, and meet industry safety standards and company product standards.
Regulatory and Industry Monitoring.
We monitor U. S. and global legal and industry proposals, discussions and developments relating to the consumer products we sell. We share our knowledge with our vendors through updates to our Quality Assurance Manual, vendor alerts, and guidance documents.
Proactive Company Standards.
We are diligent in our monitoring of industry and regulatory developments and trends, which allows us to be proactive in establishing company product standards. In a number of cases, Bed Bath & Beyond Inc. requires its vendors to implement product standards ahead of regulatory requirements. Bed Bath & Beyond Inc. has also established company standards for certain product categories above and beyond regulatory requirements. Exemplos incluem:
Policy established to mitigate the risk of furniture tipping by requiring a tip resistant kit and warnings to be included with any furniture item 30 inches or more in height that can be placed on the floor and against a wall. buybuy BABY also makes information available to consumers on the importance of using tip resistant kits. Policy requiring that expanding materials in toys meet the requirements of EN 71-1:2018. Expanding material is defined as a material that increases in volume when exposed to water. Toys with materials that expand in excess of the standard may pose a choking risk if swallowed. Policy prohibiting the use of synthetic plastic microbeads measured less than 5 millimeters in size in private label personal care products. This policy was adopted ahead of regulatory requirements. Policy prohibiting the use of feathers or down obtained by live plucking of birds. Vendors are required to take reasonable steps to ensure that feathers and down contained in their products are the by-product of the food chain.
buybuy BABY is also a leader in promoting safe sleep environments for babies, via various efforts displaying educational signage in stores, distributing safe sleep educational materials to baby registrants and customers both in-store and online, as well as providing thorough training to buybuy BABY associates.
Proactive Company Standards – Chemicals.
Bed Bath & Beyond Inc. recognizes our customers’ interest regarding chemicals of potential concern in consumer products. In addition to diligent monitoring of regulatory and industry developments in this area, as part of our above and beyond requirements we have established the following:
The Company maintains a Restricted Substances List ("RSL") identifying substances that are of potential concern to human health and the environment, although they may not be the subject of current legislation in North America. It is recommended that vendors exercise efforts to reduce or eliminate these substances of potential concern in their products. Vendors are reminded to avoid replacing substances of potential concern with another substance of equal or greater concern. Vendors are encouraged to always seek safer known alternatives. The RSL is reviewed and updated at least annually. Policy prohibiting use of certain flame retardants in all products. This prohibition is applied nationally. Policy prohibiting use of Polyvinyl Chloride ("PVC") in baby bibs. Policy prohibiting the use of triclosan in cleaning products used for sanitizing or hand and body cleansing. This policy was adopted ahead of regulatory requirements. buybuy BABY makes available to customers information regarding the chemical flame retardant content of the crib mattresses, and nursery gliders and ottomans, and foam changing pads it offers for sale on its website. Policy aimed at reducing the use of lead and cadmium in products by requiring a more stringent chemical content level for private label products than required by current regulation. This policy is enforced through our Testing Program. Policy to achieve phthalate reduction in plastics by extending the scope of regulatory phthalate limits for childcare articles to all private label products where phthalates may be present. This policy is enforced through our Testing Program.
Safe Handling and Disposal of Chemical Containing Products.
We recognize the need for safe handling, transport and disposal of chemical containing products in order to protect the health and safety of our customers, our associates and the environment. Bed Bath & Beyond has partnered with The Worldwide Environmental & Regulatory Compliance Solution (“WERCS”), which is part of UL, a global leader in the safety science industry. The WERCS program was developed specifically to give retailers access to accurate regulatory compliance data. Product manufacturers provide WERCS with detailed formulation information for their chemical containing products, such as household cleaners, personal care products and cosmetics. WERCS analyzes this information and provides us with the data necessary to comply with a variety of regulations relating to the proper handling, storage, transport, and disposal of these products. In addition, we regularly participate in conferences hosted by WERCS, where retailers share knowledge and best practices in this important safety and environmental field.
C. Marketing Communications.
Customer Privacy.
At Bed Bath & Beyond, we are committed to protecting the privacy of our customers, and therefore we do not sell or rent the information our customers provide to any third party. Further, we do not share the information that customers provide to us with any third parties for their direct marketing purposes without first providing the opportunity to opt-in or opt-out of such sharing. Our concepts that have a direct mail program (Bed Bath & Beyond and buybuy BABY) subscribe to the DMA’s "Do Not Mail Requestor Program" and apply all requests in a timely manner to our direct marketing program. The DMA is the leading global trade association of businesses and nonprofit organizations using and supporting multichannel direct marketing tools and techniques. Similarly, the Company complies with the guidelines of the Mobile Marketing Association in connection with its marketing activities in the mobile space.
For further information, review our privacy policy.
Sustainable Paper Procurement Policy.
At Bed Bath & Beyond Inc., we recognize our role in the lifecycle of our print advertising material, and we embrace the responsibility for making that lifecycle as environmentally sustainable as we can. From our founding in 1971, word-of-mouth has defined our approach to communicating with our customers, allowing the quality and selection of our merchandise to speak for themselves. Consequently, we believe we have traditionally relied less on paper to deliver our message than comparable enterprises.
Print ads remain essential marketing tools. Our goal is to increase the sustainability and reduce the environmental footprint of these tools to the greatest extent practicable through our paper selection and use. We encourage the continuing environmental performance improvement of our paper suppliers.
Sustainable Paper Defined.
There is general agreement about the definition of sustainability (see the Brundtland Commission report); however, there is as yet no universally accepted definition of sustainable paper. Bed Bath & Beyond Inc. adheres to the more broadly accepted understanding of sustainability in paper procurement, which advocates using only paper products that are sourced and manufactured in ways that minimize the use of natural resources and any burden on the environment throughout their lifecycle.
Our Approach to Sustainable Paper Procurement.
Although there is no universally accepted definition of sustainable paper, Bed Bath & Beyond Inc. achieves its sustainable paper procurement goal by meeting specific commitments in five key areas:
Fiber from Non-Endangered, Sustainable Forests Certified Fiber Environmentally Superior Manufacturing Energy and Greenhouse Gas Reduction Minimum Use of Paper.
To meet these commitments we use an internal action plan, minimum supplier requirements, supplier preferences, and wherever possible, quantifiable targets. Rather than drafting and redefining new forestry, manufacturing or other sustainability standards and imposing them on ourselves and our suppliers, we have chosen from existing, widely-accepted and respected national and international standards wherever possible. For our forestry requirements, our suppliers will have the option of complying with the relevant provisions of one or more of the following forest certification standards:
Forest Stewardship Council ("FSC") Sustainable Forestry Initiative ("SFI") Programme for the Endorsement of Forest Certification Schemes ("PEFC")
Fiber from Non-Endangered, Sustainable Forests.
Minimum supplier requirement : Suppliers must demonstrate that none of the fiber in the paper they supply the Company originates in forests that are illegally harvested or endangered, as defined by the FSC, SFI, or PEFC standards. Suppliers also must demonstrate compliance with the Lacey Act, the U. S. law enacted to prevent the importation of illegal wildlife, fish and plants. In 2008, the Act was amended to include illegally harvested wood and wood products, including pulp and paper.
Supplier preference : The Company prefers suppliers who document that all of the fiber in the paper they supply is at least "controlled wood" as defined by the FSC standard or the SFI Fiber Sourcing standard.
Company target : 100 percent of the fiber in our print advertising material is documented as at least controlled.
Certified Fiber.
Minimum supplier requirement : All paper sold to the Company must be certified to either a chain-of-custody or sustainable fiber procurement standard. In addition to the forest certification standards listed above, we will accept certification to other credible standards, including the American Tree Farm System ("ATFS") and Master Logger.
Although the focus of our policy is sustainability, we strive to use paper with recycled content when it is available at price parity with virgin fiber paper, as long as it meets our rigorous print quality standards.
Supplier preference :The Company prefers suppliers who can document the highest percentage of the fiber in their paper back to forests certified to the FSC standard.
Company target : 100 percent of the paper used in our circulars is FSC, SFI and PEFC certified. Much of the fiber in all our other print advertising material is also certified and will work with our suppliers to continue increasing our certified paper purchasing, with the ultimate goal of certifying 100 percent of that fiber.
We expect that all paper merchants keep their certifications (FSC, PEFC and SFI) current to maintain chain of custody.
Environmentally Superior Manufacturing.
Minimum supplier requirement : All suppliers must demonstrate to the Company that they operate in an environmentally responsible manner, encourage pollution prevention and seek continuous environmental performance improvement.
Supplier preference : The Company prefers suppliers who:
Report their environmental and sustainability performance using Metafore’s Environmental Paper Assessment Tool® (“EPAT”) Have adopted, implemented and maintain an Environmental Management System (“EMS”) with elements the same as or comparable to the ISO 14001:2004, EMAS. including equivalent company programs; or Qualify for eco-labels like Blue Angel and Nordic Swan.
Company Target : 100 percent of the Company paper suppliers publish a publicly available Sustainability or Environmental Report.
Energy and Greenhouse Gas Reduction.
Minimum supplier requirement : The lack of binding state, federal and international standards for greenhouse gas emissions combined with differing supplier operational considerations makes it difficult to set a specific greenhouse gas reduction requirement for all suppliers. Until clear standards are established, we ask our suppliers to demonstrate a commitment to continuous performance improvement in both overall energy efficiency and greenhouse gas reductions.
Supplier preference : The Company prefers suppliers who demonstrate continuous energy-related performance improvement, including increased overall energy efficiency in the amount process waste, finding beneficial uses for their process waste, decreased fossil fuel use, reductions in the amount of process water used per ton of product produced, reduction, increased use of renewable energy and decreased greenhouse gas emissions per ton of production (intensity).
Company target : The Company seeks to reduce the carbon footprint of our catalogs, inserts and circulars by moving toward lighter-weight paper grades where practical. Lightweight papers require less energy to manufacture and ship, thereby reducing greenhouse gas emissions that contribute to climate change.
Minimum Use of Paper.
Responsibly managed forests where trees are grown, harvested and re-grown in harmony with nature provide a perpetual resource for papermaking. Even so, the Company believes we have a responsibility to use this valuable resource as efficiently as possible. To minimize our use of paper we:
Conduct regular mailing list maintenance to assure lists are accurate and up to date. Maintain in-house do-not-market lists for customers and prospects who do not wish to receive circulars from us. Participate in the DMA Choice program of the Direct Marketing Association (“DMA”), which allows consumers to opt-out of unwanted catalog mailings via the internet. Design catalogs, inserts and circulars for maximum economy of space. Work with our printers to eliminate overprinting and reduce waste. Encourage recycling through our participation in programs like the DMA’s Please Recycle campaign. Benchmark and implement best environmental practices through our participation in the DMA Green 15 program.
Meeting Our Sustainability Goal.
We continue to adopt an internal action plan to implement this policy, periodically measure the results toward our targets and adjust our practices to meet these commitments, and we will work with our suppliers to set workable timetables to meet our goal.
D. Human Resources.
The expansion of our store count and our merchandise offerings has required similar expansion of our staff, which we have accomplished, in part, by promotions from within the Company, as well as by hiring the most qualified candidates. A number of former stock associates, sales associates and management trainees are today the Store Managers, District Managers, Regional Managers and Vice Presidents of the Company. And, as we continue to grow, our "promote from within" philosophy will continue to offer the opportunity for advancement to qualified associates. We offer numerous opportunities for people who wish to move ahead in the retail field and demonstrate commitment, motivation and ability. We welcome new associates, hoping they will enjoy being a part of our Company’s growth.
The Company celebrates diversity and believes that our diverse workforce contributes to the strong bond our associates have with our customers. We also believe that our commitment to diversity and the outstanding opportunities for professional and personal growth we offer to all associates, regardless of background, contribute to the high associate retention rate that we have long enjoyed.
Mutual Respect.
The Company has zero tolerance for any form of harassment or unlawful discrimination. Our policies relating to workplace issues revolve around a philosophy of mutual respect.
Since its founding in 1971, the Company has been committed to working directly with our associates with respect to any issues that may arise. Our actions over the years demonstrate our desire to have our managers available for our associates. Our associates share a common mutual interest to do what is right for our customers and our business. We are proud of the environment we provide our associates. We have a commitment to communicating with our associates, ensuring they work in a safe environment, providing recognition and feedback, training and developing our associates, treating them consistently, and having our leadership team act with integrity and lead by example in all instances.
Intellectual Honesty.
We have developed a culture that believes in empowering our people with a decentralized management structure. We give them the autonomy to run the business and be an entrepreneur. This empowerment and decentralized decision-making process includes many responsibilities, such as intellectual honesty.
We remind our associates that they are representatives of the Company and, as such, it is expected that their behavior and conduct are appropriate and beyond reproach in all professional and personal dealings and interactions with all levels of associates, vendors, customers, or others.
Work Environment.
The Company is also committed to maintaining a working environment completely free from harassment, unlawful discrimination or intimidation of any kind. We have policies and procedures in place to discourage such conduct and enable associates to report such conduct (including anonymously) so that it can be promptly and fairly addressed. Appropriate disciplinary action will be taken against any associate who harasses or unlawfully discriminates in violation of this policy.
Safe Work Environment.
It is the policy of Bed Bath & Beyond Inc. to provide a safe and accident free environment for our associates and customers.
The success of Bed Bath & Beyond in preventing accidents from occurring is dependent upon three critical elements:
Established safety standards An awareness and training program Safe work practices consistently enforced.
The Company has an established safety program and encourages safe work practices. We provide awareness and training programs for all associates. The specific awareness and/or training programs includes: Regulated Waste Program, Lifting and Ladder Certification, Fire Safety Training, Material Safety Data Sheets ("MSDS"), Safety Knife, Tritium Exit Sign, Workplace Violence training, and Code Adam alerts.
The safety of our customers and associates requires that we address violations of safe work practices. Safety guidelines provide a fair and consistent approach to counseling when unsafe practices are observed.
Recruitment.
Employment at any of our locations is based solely on job-related qualifications: we recruit, hire, train, promote and compensate our associates and provide all other conditions of employment including company sponsored events without regard to race, color, creed, religion, national origin, age, sex, gender identity, genetic information, marital status, lawful alien status, sexual orientation, physical or mental disability, citizenship status, veteran status, employment status, or any other basis prohibited by applicable law. Employment actions are based upon our operating needs and individual associate or applicant merit, including but not limited to: qualifications, experience, ability, availability, cooperation, and job performance.
Our Associate Referral Bonus Plan is designed to provide incentive to associates to encourage and recommend friends, acquaintances, former work associates, or people met while shopping who provided excellent customer service for possible employment with us.
In addition, our recruiting efforts are widespread via such means as the Internet, college campus visits, job fairs, and venues designed to increase our access to qualified minority candidates.
Bed Bath & Beyond Inc. provides its eligible associates with a variety of benefits, including:
Medical & Dental Benefits Personal Life Insurance Short and Long Term Disability Health Care Savings Accounts Dependent Care Flexible Spending Account Health Care Flexible Spending Account Paid Sick Days Paid Vacation Paid Personal Days 401(k) Savings Plan Associate Purchase Discounts.
Training and Education.
Bed Bath & Beyond Inc. is a unique company with a unique culture and, as such, we have a unique approach to training. Our strong, service-oriented culture is based on a philosophy of promoting from within. Our many training programs, such as Associate Development Training, Management Development Training, Leadership Development Training, and Product University Training, are designed to give our associates the skills that will enable them to grow as far as their ability will take them in our Company.
We are now hiring and training the managers who will become our store managers and district managers in the near future.
Advancement Opportunities.
Associates are considered for advancement based on their performance in their present position and the skills they demonstrate. There are many career opportunities available to qualified associates. Our Company’s continued growth is constantly generating new job openings, which can create opportunities for advancement for qualified associates. Associates are encouraged to let their supervisors know exactly what their interests are, to learn as much as possible about the various careers within the Company and to be certain that their performance is at its best.
Reasonable Accommodations.
Bed Bath & Beyond Inc. provides reasonable accommodations to ensure that qualified individuals with disabilities enjoy equal employment opportunities. Bed Bath & Beyond Inc. provides, at a minimum, all legally required reasonable accommodations. Where circumstances permit, Bed Bath & Beyond Inc. may provide accommodations which go beyond that which is legally required.
In general, a reasonable accommodation is any change in the workplace or the way things are customarily done that provides an equal employment opportunity to an individual with a disability. While there are some things that are not considered reasonable accommodations (for example, removal of an essential job function or personal use items such as a hearing aid or eye glasses that someone already has and is using on and off the job), reasonable accommodations can cover most things that enable an individual to apply for a job, perform a job, or have equal access to the workplace and associate benefits. Common types of accommodations include: modifying work schedules, granting breaks, providing leaves of absences (including extending the duration of leaves of absences outlined under our leave policies), removing and/or substituting a marginal job function, making changes in workplace policies and/or providing a reassignment to another vacant job for which an individual is qualified to perform.
Bed Bath & Beyond Inc. will review accommodation(s) on an individual basis and, as necessary, attempt to engage associates in an interactive dialogue about potential reasonable accommodations. This commitment extends to associates on authorized medical leaves of absence. To be reinstated from medical leaves, associates need not be free from all work restrictions but must be able to safely and successfully perform all essential job functions, with or without reasonable accommodations that do not pose an undue hardship. If associates are not qualified to return to work at the expiration of authorized medical leaves, Bed Bath & Beyond Inc. also will consider providing additional job-protected leave as a reasonable accommodation.
When necessary to facilitate an interactive dialogue about potential reasonable accommodations, Bed Bath & Beyond Inc. may request that associates provide medical documentation explaining the medical need for the accommodations and/or input on the precise, job-related limitations caused by the disability. Bed Bath & Beyond Inc. will consider a number of factors when evaluating requested accommodations including, but not limited to, the essential function(s) of the position, the specific restriction(s), the staffing levels, the duration of the restriction, and the hardship that might be placed on other associates and the business. Bed Bath & Beyond Inc. will process any requests for reasonable accommodations in a prompt and efficient manner.
E. Social Compliance (including disclosures under the California Transparency in Supply Chains Act of 2018)
Bed Bath & Beyond Inc. is committed to sourcing quality merchandise while developing meaningful, long-term relationships with vendors who share common principles of social responsibility. In connection with this effort, we encourage our vendors to adopt a comprehensive program of responsible practices and to prepare a corporate responsibility (or “sustainability”) report if they do not already do so.
In addition, all vendors and their factories must adhere to our "Code of Conduct," which details our policies in regard to child labor, involuntary labor, human trafficking, disciplinary practices, non-discrimination, health and safety, environmental protection, wages and benefits, working hours, employee relations, and other items. Vendors must also follow our Conflict Minerals Policy included below.
Vendor compliance with the Code of Conduct is verified in part through our Social Compliance Audit Program detailed below. Information on the Social Compliance Audit Program, the Code of Conduct and Conflict Minerals Policy are made available to vendors in our Quality Assurance Manuals.
Social Compliance Audit Program.
As an additional measure in support of responsible sourcing, the Company maintains a Social Compliance Audit Program (“Audit Program”). The structure of the Audit Program varies by concept and can consist of vendor self-validation, review of existing third party audits, and/or onsite factory audits. The Company has partnered with a third-party provider to help facilitate and manage the Audit Program. The Audit Program covers all aspects of the Code of Conduct including assessing risks of human trafficking and slavery. When third-party on-site audits are conducted they include meetings with factory managers, a factory tour, and worker interviews outside the presence of factory management, as well as document review. Each supplier is notified in advance of a two-week window when an on-site audit is expected to take place, but the actual audit date is unannounced. When an area of noncompliance is identified, the factory is required to develop a corrective action plan. Depending on the severity and type of non-compliance, factories are given 30, 60, or 180 days to correct the problem. At the end of the corrective period, the factory is re-audited. The Company may deny business after certain types of noncompliance and when suppliers do not meet the corrective action plan and re-audit requirements. The Audit Program is currently maintained by Bed Bath & Beyond, buybuy Baby, Christmas Tree Shops, Christmas Tree Shops andThat!, andThat!, World Market, Cost Plus World Market, Cost Plus, Harmon and Harmon Face Values. The Company is looking to expand the Audit Program to the businesses it recently acquired.
The Quality Assurance team meets with Company executives at least annually, and typically more frequently, to review the Audit Program. The Board of Directors is also updated periodically on the status of the Audit Program. The Quality Assurance team, as well as other associates with roles related to the supply chain, participates in meetings and webinars provided by third-party providers to stay current on the subjects of human trafficking and slavery and to further develop the Audit Program. The Code of Conduct and specifically issues of human trafficking and slavery are addressed in the Company’s training of new associates with supply chain responsibility. The training is repeated annually for those associates. All Company associates are expected to adhere to the Code of Conduct and Company Ethical Policies and report any violations to the General Counsel.
Code of Conduct.
The Bed Bath & Beyond Inc. Code of Conduct summarizes the basic requirements concerning working conditions that must be satisfied by each vendor for every location. Bed Bath & Beyond Inc. reserves the right to change and supplement the Code of Conduct at any time.
Vendors shall familiarize workers with the Code of Conduct and display it, translated in the local language, at each of their facilities in a location readily accessible to workers. Vendors shall ensure that their contractors and suppliers adhere to the Code of Conduct.
Child Labor.
Vendors shall not use child labor. For purposes of this Code, "Child" means being of the age for compulsory schooling and, in any case, shall not be less than 15 years. If any country or locality of production or export has a more restrictive definition of child labor, then that more restrictive definition applies. Vendors must verify the age of their workers and maintain copies of their workers’ proof of age. Vendors must follow all applicable laws and regulations regarding working hours and conditions for minors.
Involuntary Labor.
Vendors shall not use involuntary labor. "Involuntary Labor" is defined as work or service which is extracted from any person under threat or penalty for its non-performance and for which the worker does not offer himself or herself voluntarily, and includes all manner of prison, bonded, indentured and forced labor.
Human Trafficking.
Vendors and all direct suppliers to such vendors shall comply with the laws addressing human trafficking and slavery of the country or countries where the vendors do business. In addition, vendors and all direct suppliers to such vendors shall not engage in the recruitment, transportation, transfer, harboring or receipt of persons, by means of the threat or use of force or other forms of coercion, of abduction, of fraud, of deception, of the abuse of power or of a position of vulnerability or of the giving or receiving of payments or benefits to achieve the consent of a person having control over another person, for the purpose of exploitation. Exploitation shall include, at a minimum, the exploitation or the prostitution of others or other forms of sexual exploitation, forced labor or services, slavery or practices similar to slavery, or servitude. Workers must be allowed to maintain control over their identity documents.
Vendors must implement procedures to manage all aspects of the supply chain to ensure they comply with the foregoing prohibitions on slavery and human trafficking.
Hiring, Employment and Disciplinary Practices.
Vendors must implement hiring practices that accurately verify workers’ age and legal right to work in the country prior to employment. Work permits, as applicable, and copies of government issued identification documents must be maintained in the personnel files of all workers.
Vendors shall employ workers solely on the basis of their ability to do the job and shall not discriminate on the basis of age, gender, racial characteristics, maternity or marital status, nationality or cultural, religious or personal beliefs in relation to hiring, wages, benefits, or termination.
Vendors shall treat all workers with dignity and respect. Factories shall not use corporal punishment or any other form of physical or psychological coercion or intimidation against workers.
Health and Safety.
Vendors shall provide workers with a clean, safe, and healthy workplace in compliance with all applicable laws and regulations.
The work environment must be safe and sanitary to ensure there are no unreasonable risks to the health and safety of all workers. Factories must implement procedures and safeguards to prevent accidents and injuries to workers; procedures and safeguards include, but are not limited to, inspection of buildings, machinery, and fire extinguishers. Regular and recorded health and safety training shall be provided for all new or reassigned workers and management.
Vendors shall ensure that workers have access to clean drinking water, sanitary washing facilities, and an adequate number of toilets.
Aisles, exits, and stairwells must be kept unblocked at all times. The workplaces must provide adequate lighting and ventilation.
Vendors must maintain appropriate chemical safety ensuring proper chemical storage, eye wash stations, and Personal Protective Equipment for workers, as applicable.
Environmental Protection.
Vendors should ensure that every manufacturing facility complies with environmental laws, including all laws related to waste disposal, air emissions, discharges, toxic substances, and hazardous waste disposal, as well as procedures for notifying local authorities in the event of an environmental accident resulting from the vendor’s operations.
Factories must take steps to ensure that all input materials and components were obtained from permissible sources consistent with international treaties and local laws and regulations. Appropriate and adequate environmental training should be provided to all workers and management.
Wages and Benefits.
Vendors shall provide wages and benefits that comply with all applicable laws and regulations, or the prevailing local manufacturing or industry rates, whichever is higher. Overtime pay shall be calculated at the legally required rate. Factories must compensate all workers in accordance with the law and where applicable with contractual agreements. Workers must be provided with written and understandable details regarding their employment and compensation.
Working Hours.
Vendors shall not require workers to work, including overtime, more than 60 hours per week or more than any maximum number of hours per week established by applicable laws and regulations, whichever is less. Unless extraordinary circumstances exist, vendors shall guarantee that workers receive at least one day off during each seven day period.
Employee Relations.
Vendors shall respect the right of workers to take advantage of any applicable laws allowing employees to freely associate.
Dormitories and Canteen.
Factories that provide residential and dining facilities for their workers must provide safe, healthy, and sanitary facilities. All areas of the dormitory facilities shall be kept secure, clean and have safety provisions (such as fire extinguishers, first aid kits, unobstructed emergency exits, emergency lighting, etc.). Emergency evacuation drills shall be conducted at least once a year. Additionally, factories shall provide appropriate washroom facilities, including adequate toilets and showers segregated by gender. The facility should also have security measures to protect employees and their property. Dormitories must be in compliance with all housing laws and regulations, occupancy requirements, and health and safety laws.
Requerimentos legais.
Vendors shall comply with all legal requirements applicable to the conduct of their businesses, including those set out above.
Conflict Minerals Policy.
Rule 13p-1 under the Securities Exchange Act requires U. S. publicly traded companies that manufacture or contract to manufacture products to report to the Securities and Exchange Commission (“SEC”) annually on whether those products contain tin, tungsten, tantalum, and/or gold necessary to the functionality or production of the products and whether those minerals were derived from Covered Countries. The "Covered Countries" include: the Democratic Republic of the Congo; Angola; Burundi; Rwanda; South Sudan; Tanzania; Central African Republic; Uganda; Republic of the Congo; and Zambia.
Bed Bath & Beyond Inc. takes its obligations under SEC regulations and other regulations seriously. Bed Bath & Beyond Inc. has adopted the supplier requirements contained herein as part of our Conflict Minerals Program. Suppliers are expected to review the Conflict Free Sourcing Initiative's lists of compliant (conflict-free) smelters and refiners and strive to only accept tin, tungsten, tantalum, and gold that derive from smelters and refiners on these lists, including smelters and refiners that source from the Covered Countries. The lists are available at conflictfreesourcing/conflict-free-smelter-refiner-lists/
In furtherance of the foregoing, Bed Bath & Beyond Inc. also specifically expects all suppliers of Bed Bath & Beyond Inc. imported and domestically sourced private label products to:
Adopt and comply with a conflict free sourcing policy that is consistent with these requirements and Bed Bath & Beyond Inc.'s publicly posted Code of Conduct, and to require its direct and indirect suppliers to do the same; Determine which of the products incorporate tin, tungsten, tantalum, or gold, regardless of country of origin; Map its supply chains associated with those products, including by engaging its suppliers to identify the smelters and refiners used in its supply chain to process the tin, tungsten, tantalum, or gold and determining whether those minerals are recycled, scrap or original extraction; Obtain and prepare documentation supporting the origin determination for any tin, tungsten, tantalum, or gold incorporated into the products; and Otherwise put in place policies, procedures and frameworks that are consistent with the Organisation for Economic Co-operation and Development's Due Diligence Guidance for Responsible Supply Chains of Minerals From Conflict-Affected and High-Risk Areas.
Bed Bath & Beyond Inc. will annually require sourcing and related information from certain suppliers in the form of a survey that must be completed for imported and domestically sourced private label products supplied to Bed Bath & Beyond Inc. Bed Bath & Beyond Inc. reserves the right to request this information on a more frequent basis and to request additional or supplemental information. If any information concerning the usage or source of tin, tungsten, tantalum, or gold furnished to Bed Bath & Beyond Inc. is later determined by the supplier to have been inaccurate, the supplier shall promptly (and in any event within 72 hours) notify Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. also reserves the right to periodically request documentation evidencing a supplier's sourcing policies and practices and the efforts the supplier has taken to identify the source of the tin, tungsten, tantalum, or gold used in Bed Bath & Beyond Inc. imported and domestically sourced private label products.
Bed Bath & Beyond Inc. believes in establishing and maintaining long-term relationships with suppliers whenever possible. If Bed Bath & Beyond Inc. determines that a supplier may be violating any of the foregoing expectations, Bed Bath & Beyond Inc. may require the supplier to commit to and implement a corrective action plan within a reasonable timeframe. Continued failure to adhere to these expectations and refusal to address issues of concern may lead to termination of Bed Bath & Beyond Inc.'s business relationship with the supplier. Nothing contained herein shall be interpreted to preclude Bed Bath & Beyond Inc. from terminating any supplier relationship at any time for any reason.
Violations of the Conflict Minerals Policy can be reported to Bed Bath & Beyond Inc.’s Legal Department (Attention: General Counsel) at 908-688-0888 so that the matter may be fully investigated and appropriate remedial action taken.
Failure to adhere to the above policy or to provide requested information to Bed Bath & Beyond Inc. may result in vendor chargebacks or vendor payment hold.
V. Environmental Responsibility.
The words of our Co-Chairmen and Chief Executive Officer continue to guide our thinking regarding our Company’s environmental responsibility. They wrote, "The broader concerns over energy costs, our nation’s dependence on foreign oil, the rate of consumption and environmental impacts of fossil fuels, deforestation, and global warming, must be our concerns as well. Our response to these broad concerns is local…" Our Company continues its efforts to decrease its own energy consumption, as discussed more fully below, acting locally to address the areas we can feasibly address. We must also continue to pay attention to our waste stream and that of our products. As with all things we do, we know we can do better and we continue to find ways to improve, in a manner consistent with our obligations to all our constituencies.
A. In Our Facilities.
Reusable Shopping Bags.
The introduction of the Bed Bath & Beyond reusable shopping bag has been a success for our customers looking for a shopping bag alternative. Our goal with this program has been the reduction of the distribution of single-use plastic bags.
We continue to evaluate other means of addressing issues related to single-use plastic bags, including the introduction of additional alternatives, testing certain messaging around the provision of bags to customers, and, in some areas, recycling. We believe plastic bag use is an area in which we have an ongoing opportunity to improve, and one in which we will continue to work with our customers to explore mutually beneficial ways to reduce their potential environmental impact.
Stretch Wrap Recycling.
A component of waste frequently generated by our Company is stretch wrap. Stretch wrap is generally used during shipping to secure cartons of goods to pallets.
In late 2006, Bed Bath & Beyond began the first recycling program for stretch wrap. As of August 1, 2018, there are 406 Bed Bath & Beyond locations, 48 buybuy BABY locations, 54 Christmas Tree Shops, Christmas Tree Shop andThat! andThat! locations, 43 World Market, Cost Plus World Market, Cost Plus locations, and 11 Harmon, Harmon Face Values locations involved in the stretch wrap recycling program.
For the 12 month period August 1, 2018—July 31, 2018, we recycled 321 tons of stretch wrap.
According to about, one ton of plastic saves 7.4 cubic yards of landfill space. By recycling stretch wrap in the programs noted above we saved 2,375 cubic yards of landfill space between August 1, 2018—July 31, 2018.
The Company continues to look for additional opportunities to expand the stretch wrap recycling program.
Reused Boxes.
Bed Bath & Beyond, purchases used boxes to meet some of our internal shipping and storage needs. For the twelve month period August 1, 2018—July 31, 2018, we have purchased 47,390 used boxes or 22 tons of used corrugated.
Using the Environmental Paper Network Paper Calculator (papercalculator), this is an annual reduction of 111,210 lbs. of CO2 emissions, which equates to removing 10 cars from the road each year. It is a reduction of 71 tons of wood, which equates to 455 trees saved. It also equates to 31,815lbs., or 1 garbage truck, of solid waste not generated.
Cardboard Recycling.
As a Company, the single largest waste component we generate through operation of our stores is cardboard. Cardboard accounts for roughly 75% of all the waste the Company generates at store level. Ninety percent of our stores recycle their cardboard, with the remainder representing an opportunity for improvement. Our cardboard is sent to various recyclers and processors for eventual use in the production of new cardboard products.
Since 2001, we have chosen to recycle cardboard wherever we can. From August 1, 2018—July 31, 2018, we recycled 57,891 tons of cardboard.
According to recycleacrossamerica, for every ton of cardboard recycled, forty six gallons of oil is saved. Based on this information, we saved 2, 662,986 gallons of oil from being used from August 1, 2018—July 31, 2018.
Vending Machines.
Since 2007, it has been a Company requirement that all beverage vending machines be Energy Star compliant or have an external Vending Miser installed. The external Vending Miser reduces energy consumption so that the machine’s energy use is comparable to an Energy Star compliant machine.
As of December 1, 2018, the Company has 533 Energy Star compliant machines and 667 machines with the Vending Miser installed. The Company works with a vending management company to assure this requirement is met for all new locations, as well as maintained for existing locations.
Using the energy savings calculator found on energystar. gov, the Company estimates that we are saving 1,990,800 kwh per year. This equates to an annual reduction of 3,065,800 lbs of CO 2 emissions. The website energystar. gov also equates this to removing 272 cars from the road and saving 296 acres of forest each year. These calculations are based on the number of machines listed above.
Solar Power.
On May 10, 2018, the Company energized its first solar power system at its corporate headquarters located at 650 Liberty Avenue in Union, New Jersey, totaling approximately 1.2 megawatts. The system provides a way to defend against rising electricity rates for its over twenty-five years of expected service. Since then, and as of March 1, 2017, the Company has energized solar power systems in its other corporate headquarters located at 700 Liberty Avenue in Union, New Jersey, in six distribution centers located in Stockton, California, Middleboro, Massachusetts and Florence, Port Reading, Totowa, and Secaucus, New Jersey, and in 25 stores located throughout New Jersey, New York, Massachusetts, Ohio, and California.
These solar power systems have helped avoid emissions in an aggregate total of 19.54 Megawatts or 26,594,318 Kilowatt hours. The figures of avoided emissions equivalency data were obtained from epa. gov using the EPA’s Green Power Equivalency Calculator. The following data demonstrate the expected positive impact of the aggregate of the solar power systems installed in the facilities described above, over a one year period:
Energy Savings from solar power systems installed by the Company (as of March 1, 2017)
New Jersey - Total of 16.86 mwh Massachusetts - Total of 2.17 mwh New York - Total of 0.90 mwh Ohio - Total of 0.34 mwh California – Total of 6.32 mwh.
Aggregate total of 26.59 mwh, which equates to 26,594,318 kwh.
Currently Installed Generation Will Avoid Greenhouse and Noxious Gas Emissions through the Reduction in Electrical Production (Greenhouse Gas Emissions based on EPA's Green Power Equivalency Calculator)
18,690 Tons Carbon Dioxide These Avoided Emissions are equivalent to; Annually removing 3,948 cars from the road; or Saving 2,103,055 gallons of gas each year; or Saving 43,271 barrels of oil each year; or Powering 2,760 homes each year.
For 2017, the Company anticipates solar system installations in four additional stores located throughout Massachusetts and Connecticut. The solar power systems in these new stores will help avoid additional emissions in an aggregate total of 1.11 Megawatts or 1,360,609 Kilowatt hours.
The Company continues to explore the feasibility of energizing more solar power systems in additional states throughout the United States. The Company's implementation of solar technology is one more step in our continuing efforts to improve energy efficiency, while at the same time providing very real environmental benefits.
The Company has taken significant measures to modify lighting throughout its stores, warehouses and offices in order to reduce energy usage. These measures have resulted in a classic "win-win" scenario: Good for our Company and great for the earth.
The Company’s facilities/energy department teamed up with our lighting vendors to develop fixtures currently being installed in our stores that use High Efficiency Lumen Output ("HELO"). This technology provides the same or increased lighting levels in the stores and has a longer life and warranty period that results in fewer re-lamps and reduces lighting energy costs by approximately 34%. As of December 1, 2018, there are over 1,516 HELO lighting systems installed throughout the Company, which is comprised of installations in 230 new, and 804 retrofitted, Bed Bath & Beyond stores; 40 new, and 41 retrofitted, Christmas Tree Shops, Christmas Tree Shops andThat!, andThat! stores; 103 new, and 9 retrofitted, buybuy BABY stores; 21 new, and 33 retrofitted, Harmon, Harmon Face Values stores; and 32 new, and 197 retrofitted World Market, Cost Plus World Market, and Cost Plus stores. Please note the foregoing electric expense reduction numbers assume a constant rate per kilowatt hour for comparison purposes.
The table below demonstrates the accumulated reductions in Greenhouse Emissions that our Company has achieved as a result of the HELO retrofitted locations only, measured from the date of each individual installation through December 1, 2018, as compared to the twelve month period of use prior to each specific HELO installation (avoided emissions equivalency data obtained from both epa. gov and abraxasenergy and is based on New Jersey Efficiency Levels):
While the HELO lighting project has been extremely successful, the Company has not stopped there in implementing measures to reduce energy consumption. It has instituted many other lighting modifications throughout its stores that include reducing the number of lamps used in stockrooms, displays and corridors; dimming lighting fixtures; converting exterior lights from high energy to low energy usage by using new long life technology; implementing advanced control programming from the Novar energy management system (discussed in more detail below); testing light sensors that monitor the level of natural light available and dim the lights when sufficient daylight is available; significant reductions of lighting exterior building signs throughout the night; delaying the time customer lights are turned on throughout our stores; and requiring LED lighting that has a longer life span, produces less heat and uses significantly less energy than typical neon signs. Monitoring light levels in the stores has reduced energy consumption and the amount of energy required to cool the building, as lights give off heat. As of December 1, 2018, there are 19,828 specialty lighting fixture LED lamps installed by the Company, resulting in an annual reduction of 1, 229,336 kwh. In addition, 3,567 conventional exterior security light fixtures have been converted to HELO lighting technology by the Company, resulting in an annual reduction of 1,002,327 kwh.
In late 2018, the Company started retrofitting parking lot lights. As of December 1, 2018, 800 conventional parking lot light fixtures have been converted to HELO lighting technology by the Company, resulting in an annual reduction of 224,800 kwh.
In 2018, the facilities/energy department again teamed up with our lighting partners to reduce our energy usage and operational cost. The new project would replace our T8 Fluorescent lamps with LED lamps. Reducing wattage from approx. 32 watts to 18 watts per lamp (lamp wattage). The project took full advantage of our maintenance relamp cycle, utility incentives, EPAct tax reduction credits and warranties. The LED lamps will increase lamp life, and reduce maintenance cost. The result is approx. 15% energy reduction per store.
As of December 1, 2018, there are over 247 LED lighting systems installed throughout the Company, which is comprised of installations in 1 new, and 168 retrofitted, Bed Bath & Beyond stores; 16 retrofitted, Christmas Tree Shops, Christmas Tree Shops andThat!; 29 retrofitted, buybuy BABY stores; 1 new and 7 retrofitted, Harmon and Harmon Face Values stores;, and 25 retrofitted World Market, Cost Plus World Market, Cost Plus stores, resulting in an annual reduction of 20,745,925 KWH.
Over 88% of all our Bed Bath & Beyond locations and most new Christmas Tree Shops, Christmas Tree Shops andThat!, buybuy BABY, Harmon, Harmon Face Values locations are serviced by the most energy efficient Heating, Ventilating, Air Conditioning ("HVAC") equipment available for commercial buildings. Older stores receive the newer energy efficient equipment when their old HVAC equipment is replaced. In 2005, we became one of the first retailers to adopt the use of environment friendly HVAC equipment, which uses non-CFC refrigerant R410A.
As of December 1, 2018, 9,520 Lennox L series HVAC units were in operation out of the 10,810 total units in service for all concepts.
In late 2018, the Company started installing Variable Frequency Drives ("VDF"). The VDF units reduce the speed of the fan in the HVAC units, while still providing comfort. As of December 1, 2018, VDF units have been installed in 913 stores across all concepts, resulting in a reduction of 23,252,176 kwh.
Energy Management Systems.
Nearly every Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat!, andThat!, buybuy BABY, World Market, Cost Plus World Market, Cost Plus and many Harmon, Harmon Face Values locations use the Novar energy management system to monitor and control energy use, lighting, heating, cooling, signs and even the amount of electricity that the stores use. As of December 1, 2018, the Company utilizes 1,520 energy management systems. Retrofitted stores experienced an average reduction of fifteen percent in their electrical consumption.
The new lighting and HVAC reduction and monitoring projects have provided, and will continue to provide, immense benefits for the environment. The following figures were provided in recognizing the expected positive impact of the lighting and HVAC changes in a single Bed Bath & Beyond store, over one year :
Energy Savings in both lighting energy and HVAC reduction(less cooling required):
107,989 Kilowatt Hours.
The Following Greenhouse and Noxious Gas Emissions Avoided Due to theReduction in Electrical Production(Greenhouse Gas Emissions based on New Jersey Efficiency Levels):
44.8 Tons Carbon Dioxide 243 lbs Sulfur Oxide 139 lbs Nitrogen Oxides 12 lbs Carbon Monoxide 12 lbs Particulate Matter 1,056 lbs Mercury Compounds 1.6 Tons Lead Compounds.
These Avoided Emissions are equivalent to:
Planting 19 trees every week; or Planting 12 acres of forest per year; or Saving 4,982 gallons of gas each year; or Annually removing 9 cars from the road; or Driving 310 fewer miles each day.
While the operation of the Company does not result in substantial water usage, Bed Bath & Beyond Inc. is committed to water conservation where feasible. As a result, metered faucets are now used to save on water. In addition, the new .5 gallon/ flush urinals being used in most stores in the Company use half the amount of water of a regular urinal, which reduces water consumption. Total water savings of these combined efforts is 9,000 gallons a year.
White “Cool” Roof.
Many stores have a white roof which reflects the sunlight, prevents the absorption of heat into a building and allows a savings in energy cost per year (estimated at $0.03 / sf) by reducing heat gain inside. Conventional black roofs absorb heat resulting in increased air conditioning costs. A single 30,000 square foot store saves $900 a year. As of December 1, 2018, the Company has 442 Johns Manville cool roofs.
Other Green Building Measures.
The Company continuously looks for new ways to improve operations within the store and its impact on the environment, whether such measures have a significant impact like the HELO lighting project or only a minor impact. No measure is considered too insignificant if it makes sense for our Company to implement it. As a result, other measures that have been taken in our stores throughout the Company include use of sensor operated hand dryers, in lieu of paper towels that are more hygienic and conserve paper; vinyl flooring adhesive that gives off zero toxins to provide a healthier indoor environment for customers and associates; and reduction in the use of metal. Further, commencing as of March 2018, all wall bumpers installed by the Company in new stores are one hundred percent vinyl free and made of polycarbonate which is one hundred percent recyclable.
Bed Bath & Beyond relies on outside vendors for the majority of our product. We encourage our vendors to consider sustainable options in their shipping choices. There is mutual benefit when our vendors reduce waste in packaging and increase their usage of sustainable packaging materials.
Vendor Guidelines.
Included in our Routing and Shipping guidelines is the following:
Bed Bath & Beyond is working to identify safe, more sustainable and cost-effective alternatives for our packaging. We need our vendors to consider using sustainable packaging as an option when presenting packaging concepts to our organization. Vendors should consider using paper that is FSC Certified or Recycled as a step towards helping the environment. In addition, vendors should look into using soy or vegetable based non-solvent inks for printing packaging. In connection with these efforts, we are working to reduce the use of PVC in packaging when applicable. We encourage our vendors to label their product and bags constructed with PVC-free material, such as PEVA or EVA when appropriate.
Corrugated Packaging.
Balancing the amount of packaging needed for safe shipping of product with space efficiencies is key in waste reduction. If goods are damaged in transit, product waste is incurred. If overprotected, packaging is wasted. Maintaining the balance is our goal at Bed Bath & Beyond. One initiative to attain this goal is to optimize the number of units in each carton shipped to our stores. Ongoing efforts are in place to ship the most efficient number of units per carton, saving corrugated packaging. The related weight reduction translates into a reduction in fuel consumption as well. This ongoing "Freight Think/Case Pack Optimization" program expects to continue to find opportunities that will result in more "right-sized" packaging, resulting in more efficient use of corrugated packaging and, therefore, transportation.
Right Size the Packaging.
Our goal is to place our product in a package that reduces the amount of air space in each package. Bed Bath & Beyond strives to be as efficient as possible in packaging, including reducing package cube size where possible and, in those cases, using less material, optimizing shipping containers, and reducing fuel costs.
Private Label Packaging.
Packaging decisions are more directly under our control on our private label merchandise. Here we have ongoing efforts in place to reduce printed surfaces, to use less ink and to increase our use of PEVA bags, the preferred option versus vinyl. For example, bamboo bath furniture products (a private label brand) are packaged in craft-style boxes, using less printing, in turn reducing our ink usage.
Textiles Packaging.
Progress continues on increasing our use of alternative packaging materials in our textiles, or softside, categories. Alguns exemplos são:
Pure Beech and OriginsEucalyptus Origins™ Tencel® Lyocell private label textile products are packaged in PEVA bags All EVA shower liners are packaged in EVA packaging Starting to incorporate self-fabric bags for sheets, duvets and comforters eliminating the need for vinyl.
We continue to seek and identify ways we can increase our use of PEVA bags and other sustainable materials.
Hard Goods Packaging.
As in our textiles areas, we continue to look for ways to improve the types of materials used in packaging our hardside goods. We use brown corrugate boxes with printed labels instead of printing on all surfaces on certain products. This reduces the use of ink, and we continue to look for opportunities to reduce our use of printed surfaces in other areas.
B. In Our Offices.
Paper Best Practices.
In 2008, Bed Bath & Beyond established and published a “Best Practice” document for reducing copy paper consumption. Some of the practices that were implemented include elimination of fax confirmation pages, a commitment to duplex printing, and an annual review of regularly generated documents.
These published practices not only impact the amount of paper used, but the amount of toner as well. Some other practices include limiting the use of shading, use of print preview to better format documents, and electronic review and filing of documents. Since 2008, all printers purchased for our corporate office and warehouse locations have duplex capability and are defaulted to duplex printing. As of 2018, all printers purchased for the stores throughout the Company are also duplex capable and default to duplex printing.
These practices were implemented with the intent of reducing paper consumption by 20%. At present, the Company is still exploring ways to measure the actual amount of paper achieved. The difficulties faced by the Company include the continuous increase in the number of stores, flux in the number of corporate associates, adjustments made due to economic conditions, and constantly changing work requirements.
EDI Implementation.
Electronic Data Interchange ("EDI") is defined as the process of using computers to exchange business documents between companies. EDI is a more environmentally friendly process that minimizes paper use and storage requirements.
The Company implemented EDI as a preferred method of purchase order and invoice transmission for corporate purchasing expenditures beginning in November 2008. Prior to EDI, the Company printed hard copies and utilized fax machines to issue purchase orders to these suppliers. There are approximately fifty corporate purchasing suppliers participating in EDI. The Company has reduced fax transmissions by approximately 85,000 pages (17,000 purchase orders x average of 5 pages / order).
In addition, the Company uses a similar approach to receiving supplier invoices. Invoices are also transmitted via EDI reducing inbound standard mail by approximately 85,000 pages.
Since the implementation of EDI, the Company has discontinued the filing and storage of paper purchase orders and invoices for suppliers. Using the Environmental Paper Network Paper Calculator (papercalculator), eliminating 170,000 pages represents an annual reduction of 4,700 lbs of CO 2 emissions.
Bed Bath & Beyond Inc. has been using remanufactured printer toner cartridges rather than newly produced cartridges for more than five years. For the twelve month period August 1, 2018—July 31, 2018, 91% or 16,275 cartridges used, were remanufactured. In addition to purchasing remanufactured cartridges, it is our policy to return used cartridges to our provider so that the material can be used again.
As a further attempt to reduce toner waste, the Company encourages its associates to reduce printer toner by changing the density setting from high to medium. This will reduce the consumption of toner in all stores and offices.
We continue to look for more opportunities to use remanufactured cartridges rather than purchase newly manufactured cartridges and look for other ways to reduce toner throughout the company.
Copier / Fax Machines.
The U. S. Environmental Protection Agency and the U. S. Department of Energy have established the Energy Star program which is designed to prevent greenhouse gas emissions by having products that meet strict energy efficiency guidelines.
The company has been purchasing fax machines and copiers that are Energy Star rated since 2003. As of December 1, 2018, we have 390 Energy Star qualified copiers and 57 Energy Star qualified fax machines.
Using the energy savings calculator found on energystar. gov, Company estimates that we are saving 173,800 kwh per year. This equates to an annual reduction of 266,800 lbs of CO 2 emissions. The above energy savings calculator also equates this to removing 26 cars from the road and saving 37 acres of forest each year. These calculations are based on the number of machines listed above.
The Company continuously looks for opportunities to reduce energy within its corporate offices. Some of the measures that continue to be taken are to enable the energy saver function on all monitors and PC's so they will power down after fifteen minutes of non-use, deploy flat panel displays that require less power in replacement of broken CRT's, purchase smaller form factor PC's that use less energy, utilize servers that require less power to run, acquire new green printers that require less power, place printers into sleep mode so they shut down after a period of time, and install multi-function printers in areas that had a copy, fax and printer previously, thus reducing power consumption. The Company is piloting many of these solutions for our stores as well.
Corporate Campus RubberWay® Walkway.
In support of our continued commitment to healthy lifestyles, Bed Bath & Beyond installed a 10,500 square foot RubberWay® rubberized walkway and installed 21,500 square feet of porous rubber pavement to create an associate walkway. The use of these recycled materials provided an immediate environmental benefit.
The installation of the RubberWay paving systems has diverted 198,000 pounds of passenger tire rubber which equates to the diverting of 16,500 passenger tires from local landfills. Bed Bath & Beyond had the vision to make an environmental impact in the community while providing an excellent walkway surface for staff recreation.
Corporate Campus Parking Lot.
When Bed Bath & Beyond demolished a two-story office building and developed an employee parking lot for 247 corporate campus employees, the Company reused all of the masonry and concrete from the building and all of the excavated soil from the site. Additionally, all site water sheet flows to supply water to the perimeter landscaping. During this project, Bed Bath & Beyond recycled 3,600 yards of concrete and reused 2,100 yards of dirt fill.
C. In Our Community/Beyond Our Walls.
Hybrid Vehicles.
Since May 2006, hybrid vehicles have been used by Bed Bath & Beyond. As of December 1, 2018, we have 92 hybrid vehicles in our fleet, of which 47 are being used by Bed Bath & Beyond associates, 17 by Christmas Tree Shops, Christmas Tree Shops andThat!, andThat! associates, 8 buybuy BABY associates, and 5 by Harmon, Harmon Face Values associates, and 15 by Cost Plus World Market associates.
The Ford Fusion is the Hybrid vehicle being purchased at this time. The 2018 Ford Fusion Hybrid achieves 41 mpg. By using the Fusion Hybrid rather than the standard Fusion, we are reducing our carbon emissions by 38%. Calculations come from the Carbon Footprint Calculator on terrapass.
The EPA rates vehicles in two categories: smog and greenhouse gas. The results are scored on a scale of 1 (worst) to 10 (best). Both vehicles received a smog rating of 7.0. The Honda Civic Hybrid received a greenhouse gas rating of 10.0. The Ford Fusion Hybrid received a greenhouse gas rating of 9.0. Both vehicles earned the SmartWay recognition from the EPA. This goes to those vehicles that have a smog rating of 5 or higher and a greenhouse gas rating of 7 or higher.
Transportation.
The movement of goods is a prime example of an area of our enterprise where the benefits of seeking greater efficiency extend beyond the strict limits of the Company’s business. The Company has had success in finding ways to reduce expense and emissions in its supply chain, and this remains an area where opportunities for improvement still exist. This section will discuss some of those achievements and areas of further potential. The activities described below pertain both to Bed Bath & Beyond and buybuy BABY product supply chains, except for the SmartWay Partnership discussion, which information reflects all concepts. The terms "the Company" and "Bed Bath & Beyond" are used for convenience.
Pool and Consolidation.
In 2004, the Company began a program called Pool and Consolidation. This program takes Less than Load and Parcel purchase order quantities shipping to individual retail points and groups them together by region to make fewer larger shipments to stores. By shipping through this new mode, Bed Bath & Beyond has reduced the number of individual carriers handling its products and delivering to its stores. As a result we have reduced the overall miles a package travels, as well as decreased the number of trucks handling our package volume. Overall Collect Managed Freight for inbound Bed Bath & Beyond merchandise volume is 75% of these packages moving through this consolidation network. By the end of fiscal 2018, we expect to have a similar percentage of Bed Bath & Beyond merchandise flowing through pool points.
Intermodal Rail.
Since 2007, and each subsequent year thereafter the Company has moved an increasing percentage of its domestic transportation on intermodal transportation rather than traditional "Over the Road" trucking. In fiscal 2018, we moved 71% of our Truckload miles via intermodal service on the four main railroads. In this fiscal year, we are on pace to move an equivalent percentage of Truckload volume via rail. We estimate that will equate to 482 million lbs. taken off the interstate highways. We also estimate that we will reduce 65% of Carbon Footprint by using an intermodal rail solution instead of "Over the Road" trucking by reducing 2,657million metric of CO2 equivalent emissions.
Partnering with railroads and intermodal service providers to move our domestic freight has enabled us to reduce transportation related emissions, reduce highway congestion and improve our visibility to Bed Bath & Beyond freight in transit.
SmartWay® was launched by the U. S. Environmental Protection Agency ("EPA") in 2004. It is a brand that identifies products and services that reduce transportation-related emissions. SmartWay symbolizes environmentally cleaner, more fuel efficient transportation options.
The Company became a SmartWay Partner in August 2009. This collaboration challenges us to improve the environmental performance of our freight operations and helps us to know what environmental impact we are having through the carriers we select and modes we transport goods to our stores. Based on the tonnage we ship today, over 73% is transported and handled by carriers who are SmartWay Carrier Partners. The use of the SmartWay Partner label requires that the carrier report certain base line equipment, emissions and fuel consumption data to set a baseline and then they must report an action plan and demonstrate progress to maintain a certain score levels. Our objective in this area is to continue to increase the percentage of Company freight moving with SmartWay Partners and to utilize this information as a factor in our decision-making when awarding contracts to service providers in transportation and warehousing. As a SmartWay Partner, we have committed to improving energy efficiency, reduce greenhouse gas emissions, and improve air quality.
Since 2004, SmartWay Partners have reported reducing CO2 emissions by 16.5 million metric tons (the equivalent of taking over 3 million cars off the road) and reducing oxides of nitrogen emissions by up to 235,000 tons. SmartWay Partners also report to have saved an equivalent of up to 50 million barrels of oil ($6.1 billion dollars in fuel costs saved) and eliminating 9,000 tons of particulate matter. (The emissions data is from the EPA SmartWay website, epa. gov/smartway).
Rules/Standards for Carriers.
Carriers that choose to become SmartWay Partners commit to improving freight carrying operations. They agree to set and strive for attainment of environmental and fuel efficiency goals that improve the environment. SmartWay recommends simple actions to make ground freight more efficient and cleaner for the environment. Some of the strategies include: Idle Reduction, Improved Aerodynamics, Automatic Tire Inflation Systems, Wide-Base Tires, Driver Training, Low-Viscosity Lubricants, Weight Reduction, Intermodal Shipping, and Hybrid Powertrain Technology.
Benefits of SmartWay Partnership.
Benefits of the SmartWay Partnership include:
Access to information on how to reduce fuel consumption and emissions. Assistance developing a quantifiable program to improve our environmental impact. List of partner carriers. Recognition for improving our environment.
Most Bed Bath & Beyond carriers are SmartWay Partners and have joined the initiative to improve on their own fuel efficiency and other green initiatives. Bed Bath & Beyond will continue to improve its supply chain to target efficient modes of transportation and packaging to reduce the negative environmental impact its supply partners have.
Recycle Bank.
Bed Bath & Beyond was one of the first businesses to partner with RecycleBank. RecycleBank partners with cities and municipalities to provide an incentive to those residents to take every day green actions including recycling, by providing them with rewards.
Bed Bath & Beyond became a partner in 2005 and buybuy BABY in 2008. RecycleBank currently provides service to more than 4 million members in the United States and the United Kingdom. We continue to expand our participation in the program as they grow to new markets. We are proud of our partnership with RecycleBank and are excited to be a popular choice of the participants who are doing their part to recycle.
To receive a Bed Bath & Beyond or buybuy BABY reward, RecycleBank members earn points by recycling and taking green actions. They then use these points to order Bed Bath & Beyond coupons for approximately 100 points or buybuy BABY coupons for approximately 50 points. The result is a highly engaged customer who is helping the environment.
VI. Awards and Recognition in 2018.
Forbes Global 2000 —The Company was ranked #991 of the top 2000 public companies in the world by Forbes magazine. Fortune 500 —The Company was ranked #238 of the largest 500 US companies by Fortune Magazine. NRF Top 100 Retailers —The Company was ranked #41 of the top 100 retailers by NRF’s Store Magazine. Solar Energy Industries Association —In 2018, the Company was ranked 5th in the top 20 list of commercial companies with total solar capacity installed. Good360 —The Company was awarded the 2018 Circle of Good Award for Outstanding Philanthropic Innovation.
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Bed Bath & Beyond Benefits.
Revisões de benefícios do empregado.
“you got 20 percent off your entire purchase but it is basically the same as what the customers get not a great benifit”
“They put oa lot of empahisis on customer serive and also training the employees thoruhgly for safety with ladders and steps”
“unlimited sick days. This is great because when you or your kid gets sick it does not cost you any vacation or personal time,”
Bed Bath & Além.
full coverage is available with company contribution, but deductibles are higher than I expected in the retail sector. The vision plan is not worth it.
Bed Bath & Beyond Response.
Our health plan included Kasier.
Bed Bath & Beyond Response.
The Best part of the benefits is that they offer way more than is required for Full-Time employees. I love that dental and eye care is available!
Bed Bath & Beyond Response.
There is no benefites for part time employees at bed abth and beyond. There is free food somtimes at the cafe and that all the perk that come with the part time job.
Bed Bath & Beyond Response.
Outstanding medical insurance options available.
Bed Bath & Beyond Response.
401k - currently taking away our per payroll match instead annual.
Bed Bath & Beyond Response.
great health insurance low priced would recommend getting signed up for health insurance. They also had life insurance. no short or long term disability.
Bed Bath & Beyond Response.
Full Suite of Benefits at an incredibly low cost to the associate. Many choices of providers and a full range of coverages available.
Bed Bath & Beyond Response.
There are no benefits offered to part time associates at Bed Bath and Beyond that I was made aware of. I don't remember whether or not workman's comp was an included benefit or not.
Bed Bath & Beyond Response.
The worst thing about Bed Bath & Beyond is that they do not offer benefits to part time associates and they do not hire full time associates so therefore, unless you are on the management team, you will not qualify to receive benefits and they make sure to keep it that way no matter how long of duration you have worked for the company. There are employees who have given over a decade of their lives to Bed Bath & Beyond and still are only able to obtain a part time schedule and never receive benefits.
Bed Bath & Beyond Response.
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Seguro, Saúde e Bem estar.
Checkmark Health Insurance (150) Checkmark Dental Insurance (108) Checkmark Flexible Spending Account (FSA) (40) Checkmark Vision Insurance (46) Health Savings Account (HSA) Checkmark Life Insurance (43) Supplemental Life Insurance Checkmark Disability Insurance (33) Checkmark Occupational Accident Insurance (23) Health Care On-Site Mental Health Care Retiree Health & Verificação Médica Death Accidental e amp; Dismemberment Insurance (31)
Financial & amp; Aposentadoria.
Pension Plan Checkmark 401K Plan (151) Checkmark Retirement Plan (27) Employee Stock Purchase Plan Checkmark Performance Bonus (14) Stock Options Equity Incentive Plan Checkmark Supplemental Workers' Compensation (21) Charitable Gift Matching.
Família & amp; Parenting.
Checkmark Maternity & amp; Paternity Leave (41) Work From Home Fertility Assistance Dependent Care Adoption Assistance Childcare Checkmark Reduced or Flexible Hours (29) Checkmark Military Leave (38) Checkmark Family Medical Leave (44) Checkmark Unpaid Extended Leave (33)
Férias & amp; Intervalo.
Checkmark Vacation & amp; Paid Time Off (68) Checkmark Sick Days (111) Checkmark Paid Holidays (107) Volunteer Time Off Sabbatical Checkmark Bereavement Leave (46)
Perks & amp; Descontos.
Checkmark Employee Discount (272) Free Lunch or Snacks Employee Assistance Program Gym Membership Commuter Checks & Assistance Checkmark Pet Friendly Workplace (13) Checkmark Mobile Phone Discount (45) Company Car Checkmark Company Social Events (9) Travel Concierge Legal Assistance.
Suporte profissional.
Checkmark Diversity Program (5) Checkmark Job Training (122) Professional Development Apprenticeship Program Tuition Assistance.
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Bed bath and beyond employee stock options

Is Bed Bath & Beyond Using Cash Effectively?
Aug. 25, 2017 10:58 AM • bbby.
Cash reserves down 50% in five years. Cash spent on stock repurchase is at 3.5x of capex. Company declared dividends amidst declining profits and slowing revenue growth.
Bed Bath & Beyond's (NASDAQ:BBBY) growth has been decelerating in the recent periods, growing at just 0.9% in 2018. Consistent pricing pressure from online giants like Amazon (NASDAQ:AMZN) and other mass retailers has decreased the operating margin by 50% in the last five years. Bed Bath has struggled to catch up with the changing retail landscape and failed to capitalize on its name recognition, strong national presence and decentralized merchandising. Consistent coupon redemption has also put pressure on gross margins. It is evident that the company needs to take steps to be more agile and frugal to survive, which is where effective use of cash comes in.
Cash Trend.
The balance sheet for fiscal-year 2018 shows that the company's state is not hopeless. Cash at 7% of total assets is pretty decent for a retailer, but what worries me is the trend. The same ratio of cash to total assets was at 17% in 2018. In 2018, cash reserve of $1 bn was further fortified by $0.75 bn of short-term investments.
The rate of cash reduction of more than 50% in a space of five years is alarming. The fact that the company had a cash infusion of $1.5 bn via a bond issue in 2017 makes this magnitude of cash depletion even more astonishing.
Where is the cash going?
The following table gives a snapshot of the cash flow statement for the past five years:
Even though the cash flow from operations has declined marginally, it has been more or less stable. Over the last five years, BBBY has generated approximately $5.8 bn of cash from operations. In its effort to improve its online infrastructure, the company has spent around $1.6 bn in capex in this period. It clearly dwarfs in comparison to the $5.8 bn, net of proceeds from the exercise of stock options, spent in its stock repurchase program. To top it all off, the company declared dividends for the first time since its IPO.
I clearly do not understand how a retailer struggling to make its presence felt in the online space can justify this cash allocation. The accounting profit has dropped from 9.5% in 2018 to 5.6% in 2018 and the revenue per square foot of store space is stagnant at $280. Neither of these metrics indicates a positive outlook for the company in the near future.
Even Amazon, the undisputed leader in online retail, spends 40% of cash generated via operations in capex and 0% in activities not directly related to operations. In the meantime, Bed Bath is spending cash that it does not have for capital restructuring, employee stock awards and dividends. The share price has dropped by almost 60% in the last five years.
This is a clear indication of how shareholders feel about the performance.
Closing Statements.
To maintain its legacy, Bed Bath & Beyond must seriously reconsider its cash flow options. This is absolutely necessary to build up the cash reserve to have any chance against its competitors. The company recently announced staffing cuts which will lead to cash savings of approximately $16 mn. This may be a step in the right direction but is still just a drop in the ocean. Until the company rethinks its cash management strategy, I would recommend investors to explore other investment opportunities.
Divulgação: Eu / não temos posições em nenhum estoque mencionado, e não há planos para iniciar posições dentro das próximas 72 horas.
Eu escrevi este artigo, e ele expressa minhas próprias opiniões. Não estou recebendo compensação por isso (além da Seeking Alpha). Não tenho nenhum relacionamento comercial com nenhuma empresa cujo estoque é mencionado neste artigo.
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