Bed Bath's Harmon integration going well
Home & Textiles Today Staff -- Home Textiles Today, June 21, 2002
Union, NJ — During its first quarter conference call yesterday evening, Bed Bath & Beyond said that its March acquisition of HBA retailer Harmon Stores is moving ahead nicely.
"The integration of Harmon's activities into Bed Bath & Beyond's is proceeding very smoothly," said co-founder Warren Eisenberg. The retailer will also add 88 new stores this fiscal year, growing its store base by about 2.5 million square feet, or 17 percent.
However, Eisenberg pointed out that the retailer still holds a relatively small piece of the approximately $75 billion home goods industry, affording tremendous expansion prospects, and the company has the capital and organization to look at other opportunities. "We're well on our way to make 2002 another 'record year,'" he said.