...Linens 'n Things, Inc. History Address: 6 Brighton Road Clifton, New Jersey 07015 U.S.A. Telephone: (973) 778-1300 Fax: (973) 815-2990 Website: www.lnthings.com Public Company Incorporated: 1958 as Great Eastern Linens, Inc. Employees: 7,700 Sales: $874.22 million (1997) Stock Exchanges: New York Ticker Symbol: LIN SICs: 5714 Drapery, Curtain & Upholstery Stores; 5719 Miscellaneous Home Furnishings; 5722 Household Appliances Company Perspectives: Linens 'n Things, Inc. is committed to providing a one-stop shopping experience for a broad assortment of high quality brand name housewares, home textiles and designer home furnishings; to keeping "won't be undersold" everyday low prices; to offering efficient customer service; and to maintaining low operating costs. Company History: Linens 'n Things, Inc. is one of the nation's two largest and most profitable specialty retailers of home textiles, housewares, and decorative home accessories. In 1998 the company was operating 176 stores (153 superstores and 23 smaller, traditional-size stores) in 37 states. The traditional stores averaged approximately 10,000 gross square feet in size while the superstores ranged from 38,000 to 50,000 gross square feet. The stores carry brand name "linens," that is, home textiles--such as bed linens, towels and pillows--and "things," such as housewares and home accessories. The superstores were located predominantly in power-strip centers and, to a lesser extent, in shopping...
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...Rachelle Allen BUS 474 Linens N’ Things versus Bed Bath & Beyond Five Forces Analysis To assess the attractiveness of the housewares industry, it is very appropriate to use the Five Forces Model. Taking into consideration the rivalry of competitors, the threat of substitutes and new entrants, and the bargaining power of the suppliers/buyers the industry is a moderately attractive one. 1. The threat of new entrants in the housewares industry is pretty low. The main barrier of entry for a new entrant to enter the housewares industry is the brand loyalty of already established stores. In exhibit two of the case, it shows that housewares can be purchased from over fifty different locations. The stores include anything from Bed Bath & Beyond to Dillard’s to Wal-Mart. This makes it very difficult for a new entrant to come into the industry and be successful. Also stated in the case, “The five largest firms capture approximately sixty percent of total sales.” (Richard Ivey School, 2010) 2. The threat of substitute products is low to moderate. It would be very difficult for a consumer to find alternatives for home furnishings, bathroom accessories, kitchen and table top items, etc. There are not many options for consumers to find products outside the realm of the originals. 3. The bargaining power of customers is low in the housewares industry. The customers do not have any influence on the pricing for these household items. As previously stated, there are...
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...& Linens-n-Things Kara Burke Keller Graduate School of Management Managing Organizational Change: Circuit City & Linens-n-Things Diagnostic tools are applied to organizations to assist in managing change. Diagnostic tools guide how we think about situations (Palmer, 2008), as well as if and how we should go about change within that situation, and also the implications of those changes. The use of diagnostic tools depends on the role of the manager (i.e. director, coach, navigator, etc.). The Congruence Model is one of the diagnostic tools that will be spoken about extensively in this paper in regards to the two companies being assessed, Circuit City and Linens-n-Things. The Congruence Model assumes that a company is most effective when its elements are compatible and work together in a fluid manner. The elements that comprise the model are tasks (the specific duties carried out, people (the skills, knowledge and individuals who comprise the organization, formal organizational arrangement (structures, processes, and policies,), and culture (the unstated beliefs and values of the organization). The model is best explained as an input of strategy and an output of performance (Mind Tools Ltd., 2012) ensuring that the four elements work together within that process. I chose to use the congruence model to analyze both Circuit City and Linens-n-Things because this model‘s best fit is for companies going through a transitional period. Both Linen-n-Things and Circuit...
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...Three barriers and three factors to overcome and to consider when entering the retail apparel market. Anthony Nibblins Introduction to Business 100 Professor Paige Baltzan Week 3 Assignment Abstract There are many Barriers and Factors to overcome and consider when entering the retail apparel industry. This report will address three barriers and why they are barriers and three factors that the upstart business person should be aware of to have a successful enterprise. This report will also give three examples of popular retailers who have understood their market and have been successful as well as three examples of retailers that who have misjudged their market and have failed. When a new entrant decides to enter the retail apparel industry they are likely to experience several barriers. A barrier is defines as “anything that restrains or obstructs progress” (www.dictionary.references.com). One barrier that a new entrant could likely encounter is gathering “Capital” (Funds needed to create and operate a business enterprise). The process for gathering capital can prove to be difficult unless one is already independently wealthy, according the National Federation of Independent Business, personal resources, not loans, are the most important sources of money. There are other avenues for gathering capital such as applying for loans through banks, grants through government agencies, to even borrowing money from friends and family. When it comes to starting...
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...Abstract Objective: To analyze the effects of Bed Bath & Beyond’s (BBBY) rapid expansion strategy on the company and to determine if such a strategy is sustainable. Methods: We used data extracted from financial statements and applied sustainability ratios such as the DuPont ratio. Results: Bed Bath & Beyond will greatly benefit from pursuing its expansion policy in both the short and long term. Key Words: Sustained long-term growth, excellent customer service, promote-from-within policy. Table of Contents Executive Summary 3 Business, Operating and Expansion Strategies 3 Consistency in Strategy and Potential Changes 5 Current Performance and Keys to its Current Success 6 Competitors 7 Strouds 7 Lechters 8 JC Penney 8 Linens ‘n Things 8 Competitive Analysis 9 The Bargaining Power of Suppliers 9 Bargaining Power of Buyers 9 The Threat of New Entrants 9 Threat of Substitutes 9 Industry Rivalry 10 ROE and DuPont ratio analysis 10 3-Point DuPont Ratio 10 5-Point DuPont Ratio 10 ROE and growth rate 11 Strategic Considerations and Recommendation 12 References 13 Appendix A 14 Appendix B 14 Appendix C 14 Appendix D 15 Appendix E 15 Appendix F 15 Appendix G 16 Executive Summary Team United is an external independent consulting group hired by the board of directors of Bed Bath & Beyond (BBBY) to review and analyze the company’s business, operating, and expansion strategies. We are analyzing BBBY’s current financial and strategic...
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...Valued at 1 April, 2007 Matthew Lewis: matthew.lewis@ttu.edu Tyler Page: tyler.page@ttu.edu Alex Segreti: alexander.l.segreti@ttu.edu Andrea Spencer: andrea.spencer@ttu.edu Stephen Wiggins: stephen.wiggins@ttu.edu Table of Contents Executive Summary Business & Industry Analysis. Five Forces Model Rivalry Among Existing Firms Threat of New Entrants Threat of Substitute Products Bargaining Power of Buyers Bargaining Power of Suppliers Competitive Advantage Analysis Key Success Factors Accounting Analysis Key Accounting Policies Accounting Flexibility Accounting Strategy Quality of Disclosure Revenue Manipulation Diagnostics Expense Manipulation Diagnostics Potential “Red Flags” Undo Accounting Distortions Ratio Analysis Forecast Financials Liquidity Analysis Profitability Analysis Capital Structure Analysis Extended Ratio Analysis SGR and IGR Analysis Forecasting Valuation Analysis Cost of Equity Cost of Debt WACC Method of Comparables Intrinsic Valuation Models Altman Z-Score Analyst Recommendation Appendix Works Cited 3 7 8 9 10 11 12 13 14 14 16 16 18 20 21 23 26 29 30 31 31 37 44 46 47 47 61 61 66 67 68 72 78 79 80 84 1 2 Executive Summary Investment Recommendation: Overvalued, Sell BBBY – NASDAQ $40.40 52 week range $30.92 - $43.32 Revenue (2006) $5,809,562,000 Market Capitalization $11.75 Billion Shares Outstanding 283,380,000 3-month Avg. Daily Trading Volume 2,332,640 Institutional Ownership 83.40% Insider Ownership 3.70% Book Value Per Share (mrq) $9...
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...WEEK 10 ASSIGNMENT Employee Rights and Safety Protecting Safety and Health Case Incident Questions: The New Safety and Health Program Question 1: Based upon your knowledge of health and safety matters and your actual observations of operations that are similar to theirs, make a list of the potential hazardous conditions employees and others face at LearnInMotion.com. What should they do to reduce the potential severity of the top five hazards? Answer: I would suggest that LearnInMotion develop a Safety and Health Program that covers employees and employer. Begin by conducting a safety and health survey. The survey should cover the use and maintenance of Equipment, Work Practices, and OSHA Standards. The five top hazards that I can identify are: 1. Exposed wires and cables around the workstations and various areas are hazardous, they could potentially cause electrical fires, and damage to both employees and property. 2. Improper practices when servicing or installing equipment for the network, potentially are very damaging to those doing the servicing and the equipment being serviced. 3. The length of time that employees spend in front of computer screens and typing on the keyboards could result in eyestrain, back-strain and carpel tunnel syndrome 4. Lack of a safety program that covers employees and vendors from workplace hazards, what to do when they occur, and how to avoid them. 5. Situations such as the time that the employees spend working...
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...Valued at 1 April, 2007 Matthew Lewis: matthew.lewis@ttu.edu Tyler Page: tyler.page@ttu.edu Alex Segreti: alexander.l.segreti@ttu.edu Andrea Spencer: andrea.spencer@ttu.edu Stephen Wiggins: stephen.wiggins@ttu.edu Table of Contents Executive Summary Business & Industry Analysis. Five Forces Model Rivalry Among Existing Firms Threat of New Entrants Threat of Substitute Products Bargaining Power of Buyers Bargaining Power of Suppliers Competitive Advantage Analysis Key Success Factors Accounting Analysis Key Accounting Policies Accounting Flexibility Accounting Strategy Quality of Disclosure Revenue Manipulation Diagnostics Expense Manipulation Diagnostics Potential “Red Flags” Undo Accounting Distortions Ratio Analysis Forecast Financials Liquidity Analysis Profitability Analysis Capital Structure Analysis Extended Ratio Analysis SGR and IGR Analysis Forecasting Valuation Analysis Cost of Equity Cost of Debt WACC Method of Comparables Intrinsic Valuation Models Altman Z-Score Analyst Recommendation Appendix Works Cited 1 3 7 8 9 10 11 12 13 14 14 16 16 18 20 21 23 26 29 30 31 31 37 44 46 47 47 61 61 66 67 68 72 78 79 80 84 2 Executive Summary Investment Recommendation: Overvalued, Sell BBBY – NASDAQ $40.40 52 week range $30.92 - $43.32 Revenue (2006) $5,809,562,000 Market Capitalization $11.75 Billion Shares Outstanding 283,380,000 3-month Avg. Daily Trading Volume 2,332,640 ...
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...also we would like to thank our parents, relatives and friends for their endless love, support, and guidance, helpful and understanding attitude. We would like to thank the following persons for their cooperation and support: Our beloved Dean Conchita F. Espinueva and Faculty members of College of Hospitality Management and Tourism department, who are always there to give their own opinions and ideas about some matters that bother us. To our Practicum Coordinator Mr. Adrian Maliksi for teaching us a lot of things that will prepare us to the next stage of our lives. To our adviser Mrs. Zandra Farina Gorom for the full support that she’s given to us. Mr. Bonfacio Mercurio & Mr. Jeffrey Eva (Housekeeping Supervisors), Mr. Choy Boncan & Ms. Salve Climacosa (Linen Attendants) and Mr. Rodel Senares (Housekeeping Coordinator) for treating us not an practicumer but an employee, a family & friends and also for sharing knowledge and teaching us so many things in Housekeeping Department. To Manila Grand Opera Hotel & Casino for letting us to accomplish our on the job training and experience the real face of work in their hotel that we can use for the near future. And also to our Co-OJT’s we have met during our practicum who treated us not a co-practicumer but as friends and...
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...Bed Bath & Beyond was started in 1971 by founders Warren Eisenberg and Leonard Feinstein, who originally called it Bed 'n Bath and opened the first store in New Jersey. As per the name, it initially only sold items for the bedroom and bathroom. By 1985, it had expanded to 17 locations. Two years after that, the name was changed to Bed Bath & Beyond to reflect its full range of "domestic merchandise and home furnishing," as the company puts it. By 1991, it hit $134 million in sales, going public on the NASDAQ stock exchange one year later. The company’s portfolio grew in other ways when the new millennium hit. It bought health and beauty retailer Harmon’s in 2002, and the nothing-but-tchotchkes Christmas Tree Shops the year after. In 2007, it acquired Buy Buy Baby, and in 2012, both Linen Holdings, LLC and Cost Plus World Market. Currently operating six different businesses, Bed Bath & Beyond, Inc. now owns a total of 1,512 stores, according to its most recent earnings call; Bed Bath is its largest subsidiary with 1,020, or 67%, of its total stores. Bed Bath’s merchandising concept—a massive space offering a plethora of products—is known in the retail world as "big box." It’s the opposite approach of carefully curated home stores like Williams-Sonoma and Crate & Barrel, but was widely popular when Bed Bath first hit the market. Toys "R" Us was the first retailer to adopt this "category killer strategy," explains retail analyst Warren Shoulberg. In the pre-e-commerce...
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...COSTUME AND FASHION SOURCE BOOKS Elizabethan England Kathy Elgin Copyright © 2009 Bailey Publishing Associates Ltd Produced for Chelsea House by Bailey Publishing Associates Ltd, 11a Woodlands, Hove BN3 6TJ, England Project Manager: Patience Coster Text Designer: Jane Hawkins Picture Research: Shelley Noronha Artist: Deirdre Clancy Steer All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage or retrieval systems, without permission in writing from the publisher. For information contact: Chelsea House, an imprint of Infobase Publishers, 132 West 31st Street, New York, NY 10001. Library of Congress Cataloging-in-Publication Data Elgin, Kathy. Elizabethan England / Kathy Elgin. p. cm. — (Costume source books) Includes bibliographical references and index. ISBN 978-1-60413-379-0 1. Clothing and dress—England—History—16th century—Juvenile literature. 2. England—Social life and customs—16th century— Juvenile literature. I. Title. II. Series. GT734.E44 2009 391.00942'09031—dc22 2008047258 Chelsea House books are available at special discounts when purchased in bulk quantities for businesses, associations, institutions, or sales promotions. Please call our Special Sales Department in New York on (212) 967-8800 or (800) 322-8755. You can find Chelsea House on the World Wide Web at: http://www.chelseahouse.com. Printed and bound in Hong Kong...
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...Probability Question 1 The comparison between the bar chart and histogram are bar graphs are normally used to represent the frequency of discrete items. They can be things, like colours, or things with no particular order. But the main thing about it is the items are not grouped, and they are not continuous. Where else for the histogram is mainly used to represent the frequency of a continuous variable like height or weight and anything that has a decimal placing and would not be exact in other words a whole number. An example of both the graphs:- Bar Graph Histogram These 2 graphs both look similar but however, in a histogram the bars must be touching. This is because the data used are number that are grouped and in a continuous range from left to right. But as for the bar graph the x axis would have its individual data like colours shown in the above. Question 2 a) i) The probability of females who enjoys shopping for clothing are 224/ 500 = 0.448. ii) The probability of males who enjoys shopping for clothing are 136/500 = 0.272. iii) The probability of females who wouldn’t enjoy shopping for clothing are 36/500 = 0.072. iv) The probability of males who wouldn’t enjoy shopping for clothing are 104/500 = 0.208. b) P (AᴗB) = P(A)+P(B)-P(AᴖB) P (A|B) = P(AᴖB)P(B) > 0 P (B|A) = PAᴖBPA PAᴖBPB = PAᴖBPA PAPB = 1 P(A) = P(B) P(AᴗB) = 1 P(A)+P(B) = 1 P(B) > 0.25 Question 3 1. Frequency Distribution of Burberry Clothing...
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... _______________ by the sea 7. _______________ people who build with bricks 8. _______________ beliefs about magic and the super natural 9. _______________ ways of thinking, feeling, and acting that are shared by a group of people 10. _______________ a small amount 11. _______________ those who make horse shoes, plows and other metal items L. sparsely M. yeoman N. plantations O. navigable P. yearlings Q. bale R. isolated S. homespun T. statewide elections U. self-sufficient V. commercial agriculture 12. _______________ a loosely woven fabric usually made of linen or wool 13. _______________ a large bundle packaged for shipping, storage, or sale; often hay or cotton 14. _______________ large farms or estates often dedicated primarily to growing one primary crop 15. _______________ producing what one needs 16. _______________ large scale production of food or livestock for sale 17. _______________ animals that are one year old 18. _______________ alone, apart 19. _______________ with few things 20. _______________ a body of water, as in a river or stream, deep and wide enough to allow the passage of ships or boats 21. _______________ elections held throughout the state 22. _______________ one who cultivates his own land using his own tools 23. Which...
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...Eisenberg haven’t looked back since. This year, with 49 of these superstores in operation, Bed Bath & Beyond is expected to ring up sales of $415 million, an increase of 35% from last year’s $306 million take. Earnings are expected to grow to $28 million, or 82 cents per share, from $21.9 million, or 64 cents last year. But questions are starting to be raised about how long Bed Bath & Beyond can keep up its heady growth. Some smart investors have been selling the company’s high-flying shares, and these sellers include Feinstein and Eisenberg themselves. Rising interest rates have been slowing housing starts and, one imagines, the demand for housewares, too. On top of all that, competition is looming from the likes of Melville Corporation’s Linens ‘n Things and a host of feisty upstarts. The stock market, however, shows little, if any, skepticism. It seems to be assuming that the company’s growth will continue at the current clip, and that’s a big assumption. Since Bed Bath & Beyond went public...
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...Eisenberg haven’t looked back since. This year, with 49 of these superstores in operation, Bed Bath & Beyond is expected to ring up sales of $415 million, an increase of 35% from last year’s $306 million take. Earnings are expected to grow to $28 million, or 82 cents per share, from $21.9 million, or 64 cents last year. But questions are starting to be raised about how long Bed Bath & Beyond can keep up its heady growth. Some smart investors have been selling the company’s high-flying shares, and these sellers include Feinstein and Eisenberg themselves. Rising interest rates have been slowing housing starts and, one imagines, the demand for housewares, too. On top of all that, competition is looming from the likes of Melville Corporation’s Linens ‘n Things and a host of feisty upstarts. The stock market, however, shows little, if any, skepticism. It seems to be assuming that the company’s growth will continue at the current clip, and that’s a big assumption. Since Bed Bath & Beyond went public...
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