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Bed Bath & Beyond Inc. (BBBY) Buys One Kings Lane

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Bed Bath & Beyond Inc. ( BBBY ) has purchased home decor company One Kings Lane.

Source: Flickr

Bed Bath and Beyond didn't say how much it acquired One Kings Lane for, but it did say that it paid for it with cash . The company said the acquisition would be slightly dilutive to its earnings per share for fiscal 2016.

Bed Bath and Beyond said that the acquisition of One Kings Lane wouldn't affect its first quarter results because the acquisition was made during its second quarter. It will release its Q1 2016 earnings report on June 22, 2016 after the market closes .

"We question the rationale in acquiring another promotion-based business that appears to be under both top- and bottom-line pressure since these are issues that have plagued BBBY itself for several years," Kate McShane, a Citi analyst, told The Wall Street Journal .

BBBY shares were up 2% as of Wednesday afternoon.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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