Content about Bath

Union, N.J. -- Bed Bath & Beyond Inc. announced that its tender offer for the outstanding shares of common stock of Cost Plus was successful.

The company said Friday that about 20.8 million shares representing about 92% of Cost Plus' outstanding stock were tendered. The company currently has approximately 22.5 million outstanding shares, according to FactSet.

Cost Plus will become a Bed Bath & Beyond subsidiary and will stop trading on the Nasdaq the first business day after the deal closes.

Union, N.J. -- Bed Bath & Beyond Inc.’s profit in the fourth quarter rose to $351.0 million, from $283.5 million a year ago.

Revenue for the quarter ended Feb. 25 increased 9.1% to $2.73 billion. Same-store sales were up 6.8%.

In a conference call with analysts, the chain said it anticipates opening a total of 40 stores across all its concepts this fiscal year.
 

Columbus, Ohio -- Limited Brands reported Wednesday that fourth quarter profit dropped 21% to $359.4 million, from $452.3 million in the year-ago period.

The parent to Victoria’s Secret, Bath & Body Works and Henri Bendel was negatively impacted by a large restructuring charge for an asset write-down and closures of some of its La Senza lingerie stores. Last quarter’s profit decrease breaks a streak of four consecutive quarters of year-over-year profit increases.

Columbus, Ohio -- Limited Brands, parent to Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, said Thursday it will buy back up to $250 million of its shares.

The new share repurchase program follows the completion of a $500 million share repurchase program. So far this year, Limited has repurchased $1.1 billion worth of its stock.
 

Columbus, Ohio -- Limited Brands reported Wednesday that net income for the second quarter rose a better-than-expected 29% to $231.2 million, compared with $178.7 million in the year-ago period. 

It cited strong full-price sales at Victoria’s Secret and Bath and Body Works for the strong showing.

Revenue rose 10% to $2.46 billion, matching Wall Street expectations. Same-store sales rose 9%.

Columbus, Ohio -- The Bath and Body Works unit of Limited Brands said Tuesday it has named former Lands’ End president Nick Coe as its new CEO.

Current CEO Diane Neal, at the helm since 2007, will remain in that role through the summer. After that, she will transition into an advisory role with the company and work from San Francisco, according to the company.

Before working a Lands' End, a subsidiary of Sears Holdings Corp., Coe held senior merchandising jobs at Gap’s Banana Republic and at Levi Strauss.
 

New York City -- Lexlie Wexner, 73, the CEO and founder of Limited Brands, received a 2010 pay package nearly double the year before, according to an analysis by The Associated Press. The increase came as business improved for the parent of Victoria's Secret and Bath and Body Works.

Wexner's total compensation totaled $20.1 million, up from $10.4 million in 2009, because of a hefty increase in stock and option awards and a higher performance-based bonus.

Columbus, Ohio -- Limited Brands reported Thursday that its jumped 27% to $452.3 million in the fourth quarter, compared with $356.1 million in the year-ago period, on strong sales and healthy margins.

The parent to Victoria's Secret and Bath & Body Works previously announced that revenues for the quarter ended Jan. 29 rose 13% to $3.46 billion, beating Wall Street's estimate. Same-store sales increased 10%.

For the full year, net sales were $9.613 billion compared with net sales of $8.632 billion last year. Same-store sales rose 9%.

Winchester, Va. -- Bethesda, Md.-based Sax Realty said that Bed Bath & Beyond has leased 27,000 sq. ft. of space at Shops at Tevis in Winchester, Va.

Bed Bath & Beyond, which is slated to open in spring 2011, joins Borders Books, Hhgregg, Old Navy, Ross and Michael’s at the center.