UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 14, 2014
BED BATH & BEYOND INC.
(Exact name of registrant as specified in its charter)
New York | 0-20214 | 11-2250488 |
(State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
650 Liberty Avenue |
Union, New Jersey 07083 |
(Address of principal executive offices) (Zip code) |
(908) 688-0888
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On July 14, 2014, Bed Bath & Beyond Inc., a New York corporation (the “Company”), issued a press release announcing the commencement of its public offering of senior unsecured notes. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) | Exhibits |
99.1 | Press Release issued by Bed Bath & Beyond Inc. on July 14, 2014, announcing the commencement of its underwritten public offering of senior unsecured notes. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BED BATH & BEYOND INC. | ||
(Registrant) | ||
Date: July 14, 2014 | By: | /s/ Susan E. Lattmann |
Susan E. Lattmann | ||
Chief Financial Officer and Treasurer | ||
(Principal Financial and Accounting Officer) |
Exhibit Index
Exhibit No. | Description | |
99.1 | Press Release issued by Bed Bath & Beyond Inc. on July 14, 2014, announcing the commencement of its underwritten public offering of senior unsecured notes. |
Exhibit 99.1
FOR IMMEDIATE RELEASE
BED BATH & BEYOND INC. ANNOUNCES PROPOSED OFFERING OF SENIOR UNSECURED NOTES
UNION, New Jersey – July 14, 2014 — Bed Bath & Beyond Inc. today announced that it intends to offer, subject to market and other conditions, senior unsecured notes due 2024, senior unsecured notes due 2034 and senior unsecured notes due 2044 under a shelf registration on file with the Securities and Exchange Commission.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as joint book-running managers.
Bed Bath & Beyond intends to use the proceeds from this offering for share repurchases of its common stock and for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering of securities may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus and related supplement may be obtained by contacting any of those joint book-running managers whose contact information is listed at the bottom of this announcement.
* * * * * * * *
Bed Bath & Beyond Inc. and subsidiaries (the “Company”) is a retailer which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon or Harmon Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products from the Company either in store, online or through a mobile device. The Company has the developing ability to have customer purchases picked up in store or shipped direct to the customer from the Company’s distribution facilities, stores or vendors. The Company also operates Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, food service, healthcare and other industries. The Company is also a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond. The Company sells a wide assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables and certain juvenile products. Shares of Bed Bath & Beyond Inc. are traded on NASDAQ under the symbol “BBBY” and are included in the Standard and Poor’s 500 and Global 1200 Indices and the NASDAQ-100 Index. The Company is counted among the Fortune 500 and the Forbes 2000.
This press release may contain forward-looking statements. Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, and similar words and phrases. The Company’s actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment, consumer preferences and spending habits; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors; competition from other channels of distribution; pricing pressures; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company’s expansion program; the ability to assess and implement technologies in support of the Company’s development of its omnichannel capabilities; uncertainty in financial markets; disruptions to the Company’s information technology systems including but not limited to security breaches of systems protecting consumer and employee information; reputational risk arising from challenges to the Company’s or a third party supplier’s compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; changes to statutory, regulatory and legal requirements; new, or developments in existing, litigation, claims or assessments; changes to, or new, tax laws or interpretation of existing tax laws; changes to, or new, accounting standards including, without limitation, changes to lease accounting standards; and the integration of acquired businesses. The Company does not undertake any obligation to update its forward-looking statements.
INVESTOR CONTACTS:
Kenneth C. Frankel | (908) 855-4554 |
Susan E. Lattmann | (908) 855-4120 |
BOOK-RUNNING MANAGERS:
J.P. Morgan Securities LLC
Investment Grade Syndicate Desk
Tel: 1-212-834-4533
Morgan Stanley & Co. LLC
180 Varick Street
New York, New York 10014
Attention: Prospectus Department
Tel: 1-866 718-1649
Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd., NC0675
Charlotte, North Carolina 28262
Attn: Capital Markets Client Support
Tel: 1-800-326-5897