2023.03.24 08:30 arrayofsolutions Black Mold Specialist in Greenville SC – Array of Solutions
Black Mold Removal Greenville SCsubmitted by arrayofsolutions to u/arrayofsolutions [link] [comments]
Array of Solutions is a purely local and family-owned black mold specialist in Greenville, SC. Since 2005 it has been serving mold and water damage services in Greenville and surrounding areas. We are a specialist black mold remediation company in Greenville. We charge a low price and affordable price in comparison to national companies and provide quality service as well.
What is Black Mold/Stachybotrys?
Stachybotrys is a genus of molds, asexually reproducing which classifies it as a ‘hyphomycete’ belonging to the kingdom of ‘fungi’. Nearly all Stachybotrys infestations locate and proliferate in and on hosting materials rich in cellulose. This would include but not be limited to; Sheetrock paper, ceiling building tiles, carpets, and many, many more. Moisture is the key ingredient to BLACK MOLD survival. The appearance is nearly always different, and I have had cases where it is not black. Therefore not all molds that are black in color are “Stachybotrys” and not all “Stachybotrys” is BLACK MOLD. The origin of “Stachybotrys” is from the Greek word ‘Stakhus’. (grain or ear, sticks, or stalks or “Stachy”. “Botrus” refers to a cluster or bunch, trusses.
The most notorious type or species (S. Chartarum and S. Chlorohalonata) are known as “Black Mold” or “Toxic Black Mold” in the United States of America and relate or common when poor air quality indoors which occurs when growing fungus takes root in water-damaged building materials.
What can exposure to BLACK MOLD or Stachybotrys do to you?
Exposure to this has wide and varied effects on each individual. Factors like how long, how much and the individual’s age is all significant when asking this question. Symptoms typically impact membranes with mucous, the mouth, nose, and throat, flu and cold-like symptoms; a cough, sneezing, nausea, bloody discharge, and fatigue. I have seen people affected by lymph node irritation and skin problems. The significance of BLACK MOLD has only recently gained notoriety. According to ‘Wikipedia’, “In the 1990s after analysis of two infantile deaths and multiple cases in children from the poor areas of Cleveland, Ohio due to pulmonary hemorrhage were initially linked to exposure to heavy amounts of Stachybotrys chartarum. Subsequent and extensive reanalysis of the cases by the United States Centers for Disease Control and Prevention have failed to find any link between the deaths and the mold exposure.”
What does Black Mold look like?
This relates to the aforementioned question about ‘Stachybotrys’. In my carrier as a mold expert,, I have addressed over 1000 mold issues, There have been cases where mold that is black in color is not ‘Stachybotrys’, as well as jobs where there was no visible mold but air samples indicate large quantities of ‘Stachybotrys’. The reader’s digest version of the answer to this question is to have a Certified Mold Expert such as Doug Whitehead of Arrayofsolutions.com addresses your issue. Without testing and inspection, there is no way to tell if the black mold is ‘Stachybotrys’ or not.
Black Mold and Moisture Testing
Douglas Whitehead here again from Arrayofsolutions.com to talk about the lesser-known perils of moisture, rain, poor drainage, and mold in your home or business. The purpose of this explanation is to revisit what moisture can do to the biggest investment most Americans ever make. Your Home!
A quick story of one of my customer’s experiences with purchasing a home and mold testing; Joe, (who is now a good friend since working for him) was a newlywed, working for a local prominent corporation. He was in the market for a new home. Like most young newlywed’s, he was wanting to live in a favorable community within close range of his job. Joe wanted to live in one of the nicer neighborhoods in Simpsonville, SC. Unfortunately, the neighborhood he wished to inhabit was quite pricey and out of his budget. Joe is savvy and had found a gorgeous home within his price range. The home had a new roof with 30-year architectural shingles. There are three floors and a three-car garage. Four minutes from Interstate Eighty-Five or I-85 as called here in the Upstate. Surrounded by large oak trees, quiet, and loaded w/ great people, Joe wanted this home. Why was this home in his price range? “MOLD”! The home was part of a nasty divorce where both involved vacated the home and left it that way for two or three years. They did not run the HVAC system, shut all utilities off, and let it return to nature. The home went into foreclosure and was being sold ‘As Is’ for one-third of its sale price just three years earlier. Joe called several local mold experts and trusted Arrayofsolutions.com with remediating and warranting his home. Joe’s wife is now pregnant with her second child and has been happy and mold-free since our exchange. To make a long story short; Ignoring moisture and odors in your home reduces the biggest investment you ever make to be worth only pennies on the dollar. Call Douglas Whitehead @ “Arrayofsolutions.com” today for a $150 mold test and full inspection to protect your investment.
Black Mold and Real Estate
The title of this post was sarcasm. You will not be able to sell/buy a home in the Upstate of SC while your crawlspace is contaminated. 9 out of 10 times, the cause is; a. Moisture b. Open Vents C. Lack of vapor barrier and moisture control
Arrayofsolutions.com places most of its efforts under people’s houses. While most families are enjoying typical summertime activities, I, along with my right-hand man James, are in your home. Snakes? Spiders? Rodents and more? YOU BET!! However, we have made an art out of changing deplorable, poetry dish-like environments into pristine, dry, energy-saving storage spaces. The best part about my Company is that we do this (usually w/ short notice) in two days or less for as much as 1/2 of what the Big Companies charge. We also offer a 5-year transferable warranty.
Black Mold in Crawl Space
Should a crawlspace be as clean as your home? The scientific reasoning behind this statement is referred to as “the stacking effect”. 52% of the air in your crawlspace is succinctly correlated with the air quality in your family’s home. In short, a neglected crawlspace contributes to poor air quality in your living space. There is a direct connection between the health of your family and the condition of your crawlspace. The hardest part of my job is telling responsible homeowners that their family is sick because of their crawlspace. The second hardest part is telling folks that 98%$ of insurance companies do not cover crawlspace moisture.
Upstate Mold Desensitization Black Mold
As a mold expert in Upstate South Carolina for the last 18 years, the same circumstances arise time and time again. Black Mold desensitization is all too common when entering a customer’s home. Array of Solutions phone rings when curious customers call with a concern. These concerns range from; “We are selling our home, but did not pass our CL100.” (This is a standard test done by home inspectors which require moisture levels to be below twenty percent in the crawlspace structural members.). Also common are health concerns; “My child has been suffering from abnormal respiratory issues, unlike his / her peers.” Least common is; “We notice an odor whenever we heat/cool our home.” When inspections are conducted, we always ask them to enter the home. Because we do the same thing over and over, year after year, we can smell what home and business owners have become desensitized to. That would be the odor of black mold. When mold reproduces, then it off-gasses. This is what you would smell in barns, vacant buildings, historical sites, and homes with crawl spaces. However, you may be desensitized to the odor in your home or business and should call a local expert to perform an environmental analysis.
How do you kill Black Mold?
Black Mold is technically called ‘Stachybotrys’. Not all molds that are black in color are the notorious ‘Stachybotrys’.
I cannot operate as an expert without first testing any mold concerns. Samples are first taken to a Nationally Accredited Lab so that the protocol can be adjusted accordingly. Stachybotrys is the most toxic mold known to mankind and typically, whatever has been affected needs to be removed completely using extreme caution. If the mold is black in color but proven not to be ‘Stachybotrys’, then you need to clean the mold.
Call me, if you or a loved one has any of these concerns, Doug Whitehead today @ 864-710-6413 and I will answer the phone, come to your home and perform whatever helps you and your family. Arrayofsolutions.com is a small local company that produces big results.
2023.03.24 07:42 Vankmin Not Understanding why ColorRamp isnt working as expected
Hello all, Im basically brand new to blender, and am currently trying to make a little 3D cartoon Plague Doctor, so Im applying a type of cell shading on it and having trouble. As a lot of people do, I am using Color Ramp to get this done. However, it seems to not behaving as expected. I was able to apply it to the mask and Shirt to get the desired effect. However if I try to apply it to the vest, pants, or hat it will either display the mesh in its solid base color or the color I wish to use for the shading. Any ideas on how to fix this, or am I just dumb? lolsubmitted by Vankmin to blender [link] [comments]
Here is an example:
Here is what I have for the mask.
However, for the vest it will either show black or grey depending on arrangements of the color stops.
Thanks in advance for any help!
2023.03.24 05:00 PeaInternational5966 Manga/LN haul took advantage of the barnes and noble sale
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2023.03.24 03:30 DyslexicHeart323 🚍 2023 Tour Dates 🎸 [🎫 links, rsvp, chat shows!]
|DATE - CITY||VENUE||TICKETS||RSVP|
|4/13 - Destin, FL||Club LA (Thursday)||Ticketweb||Facebook : Last.fm|
|4/14 - Ponte Vedra,FL||Ponte Vedra Concert Hall (Friday)||ticketmstr||Facebook : Last.fm|
|4/15 - Ft. Lauderdale, FL||Tortuga Music Festival (Saturday)||official site||Facebook : Last.fm|
|4/17 - Charleston, SC||Charleston Music Hall (Monday)||ticketmstr||Facebook : Last.fm|
|4/18 - Charlotte, NC||Neighborhood Theatre (Tuesday)||venue site||Facebook : Last.fm|
|4/19 - Winston-Salem, NC||The Ramkat (Wednesday)||Etix.com||Facebook : Last.fm|
|4/21 - Chattanooga, TN||Walker Theatre (Friday)||on sale-ticketmstr||Facebook : Last.fm|
|4/22 - Marion, IL||Marion Cultural and Civic Center (Saturday)||Etix.com||Facebook : Last.fm|
|4/23 - Fort Wayne, IN||Clyde Theatre (Sunday)||Etix.com||Facebook : Last.fm|
|4/25 - Detroit, MI||The Fillmore Detroit (Tuesday)||Livenation||Facebook : Last.fm|
|4/26 - Carmel, IN||The Palladium (Wednesday)||venue site||Facebook : Last.fm|
|4/28 - Greensburg, PA||The Palace Theatre (Friday)||Venue site||Facebook : Last.fm|
|4/29 - York, PA||Appell Center (Saturday)||Venue site||Facebook : Last.fm|
|4/30 - Charlottesville, VA||Paramount Theatre (Sunday)||Venue site||Facebook : Last.fm|
|DATE - CITY||VENUE||TICKETS||RSVP|
|5/1 - Alexandria, VA||The Birchmere (Monday)||[SOLD OUT]||Facebook : Last.fm|
|5/2 - Albany, NY||Hart Theatre at the Egg (Wednesday)||venue site||Facebook : Last.fm|
|5/4 - Burlington, VT||Flynn Center (Thursday)||venue site||Facebook : Last.fm|
|5/5 - Beverly, MA||The Cabot (Friday)||ticketmstr||Facebook : Last.fm|
|5/6 - Plymouth, NH||The Flying Monkey (Saturday)||Venue site||Facebook : Last.fm|
|5/7 - Greenwich, CT||Greenwich Odeum (Sunday)||[SOLD OUT]||Facebook : Last.fm|
|5/9 - Ridgefield, CT||Ridgefield Playhouse (Tuesday)||Venue site||Facebook : Last.fm|
|5/11 - Asbury Park, NJ||The Stone Pony (Thursday)||[SOLD OUT]||Facebook : Last.fm|
|5/12 - Poughkeepsie, NY||Bardavon (Friday)||ticketmstr||Facebook : Last.fm|
|5/13 - Long Island, NY||Mayday Music Festival (Saturday)||ticketmstr *w/Blues Traveler||Facebook : Last.fm|
|JUNE 16 - Chicago, IL||Winnetka Music Festival (Friday)||Official site||Facebook : Last.fm|
|JULY 30 - Cape Cod, MA||Payomet Performing Arts Center (Sunday)||Venue site||Facebook : Last.fm|
|DATE - CITY||VENUE||TICKETS||RSVP|
|8/1 - Waterville, ME||Waterville Opera House (Tuesday)||venue site||Facebook : Last.fm|
|8/2 - Bar Harbor, ME||1932 Criterion Theatre (Wednesday)||ticketmstr||Facebook : Last.fm|
|8/4 - Rochester, NY||Lincoln Hill Farms (Friday)||tixr.com||Facebook : Last.fm|
|8/5 - Bensalem, PA||Xcite Center at Park Casino (Saturday)||on sale 3/24-axs||Facebook : Last.fm|
|8/6 - Morristown, NJ||Mayo Performing Arts Center (Sunday)||venue site||Facebook : Last.fm|
|8/8 - Buffalo, NY||Asbury Hall (Tuesday)||tixr.com||Facebook : Last.fm|
|8/10 - Kent, OH||The Kent Stage (Thursday)||etix.com||Facebook : Last.fm|
|8/11 - Marysville, OH||All Ohio Balloonfest (Friday)||official site||Facebook : Last.fm|
|8/12 - Midland, MI||Midland Center for the Arts (Saturday)||venue site||Facebook : Last.fm|
|8/14 - Madison, WI||The Barrymore Theatre (Monday)||ticketmstr||Facebook : Last.fm|
|8/15 - Des Moines, IA||Hoty Sherman Place (Tuesday)||ticketmstr||Facebook : Last.fm|
|8/16 - Iowa City, IA||The Englert Theatre (Wednesday)||venue site||Facebook : Last.fm|
|8/17 - Kansas City, MO||Uptown Theatre (Thursday)||ticketmstr||Facebook : Last.fm|
|8/19 - Sioux City, IA||Hard Rock Hotel & Casino (Saturday)||venue site||Facebook : Last.fm|
|8/21 - Boulder, CO||Chatauqua Auditorium (Monday)||venue site||Facebook : Last.fm|
|8/23 - Aspen, CO||Belly Up Aspen (Wednesday)||venue site||Facebook : Last.fm|
|9/29-10/1||Ocean's Calling Festival||venue site||Facebook : Last.fm|
2023.03.23 23:37 yummy_yum_yum123 Took advantage of the Barnes and noble bogo 50% sale
|submitted by yummy_yum_yum123 to HiScoreGirl [link] [comments]|
2023.03.23 22:27 Galaxy148 Haul from the Barnes & Noble Sale
|submitted by Galaxy148 to MangaCollectors [link] [comments]|
2023.03.23 21:16 SchlesingerMindy323 [HIRING] 25 Jobs in IA Hiring Now!
|Charter Senior Living of Northpark Place||Executive Director||Sioux City|
|Christiansen Motors Inc.||Automotve Technician||Audubon|
|Western Home Services||Carer||Cedar Falls|
|Western Home Services||Caregiver||Waterloo|
|Advance Auto Parts||Commercial Parts Pro||Ames|
|Lilly Company||Pharmaceutical Sales Rep- Associate Territory Manager- Primary Care||Ankeny|
|Peet's||Route Sales Rep Vacation Relief||Ankeny|
|Premier Truck Group||Parts Outside Sales||Ankeny|
|Bruckner Truck||Outside Parts Salesperson - Salina, KS||Cedar Rapids|
|Cognizant United States, Cognizant Technology Solutions||Software Solution Sales||Davenport|
|Schwan's Home Delivery||Route Sales Representative||Davenport|
|Schwan's Home Delivery||Route Sales Representative||Des Moines|
|Bruckner Truck||Outside Parts Salesperson - Hobbs, NM||Dubuque|
|Monster Energy||Field Sales Representative||Iowa City|
|Hormel||Jennie-O Turkey Store - SEMN - Farm Worker, Part Time Hours-Medford, MN||Storm Lake|
|Advance Auto Parts||Commercial Parts Pro||Urbandale|
|JX Enterprises||Outside Parts Sales Executive||Waterloo|
|Availa Bank||Cash Management Associate||Ankeny|
|Infinity||Staff Accountant||City Of Cedar Rapids|
|Trinity Health Senior Communities||The Alverno - Licensed Practical Nurse||Clinton|
|Trinity Health Senior Communities||The Alverno - Resident Care Assistant||Clinton|
|Trinity Health Senior Communities||The Alverno - Certified Nursing Assistant||Clinton|
|Availa Bank||Cash Management Specialist||Des Moines|
|Medical Resource Group, Inc.||Nurse Practitioner - Mason City||Mason City|
2023.03.23 20:48 BrightRick Who else makes backstories for their camps?
2023.03.23 20:44 Space_Ape_197 [WTS] Augustus Denarius, MS 62 1930 FH Standing Liberty, Small ancient lot
2023.03.23 15:51 swedishdolan Got my Big Money Rustlas DVD from Psychopathic Vault today and I got this golden ticket. Good times…
|submitted by swedishdolan to juggalo [link] [comments]|
2023.03.23 15:45 Noskyofficial [HIRING] 19 Jobs in San Antonio Hiring Now!
|Jones Capital||Lumber Inspector (Jones Lumber - Natchez)||San Antonio|
|Olive Garden||Barman||San Antonio|
|The Valentino Group||SaaS Sales||San Antonio|
|Dobbs Peterbilt||Outside Parts Sales Representative||San Antonio|
|Braum's||Farm Maintenance||San Antonio|
|ARAMARK||Route Sales Representative Ft. Lauderdale OCS||San Antonio|
|Novasyte||Specialty Sales Representative - Jersey City, NJ||San Antonio|
|Bakerly Ranch LLC||IT Manager - Food Manufacturing||San Antonio|
|Tenet Regional Resource Pool||TRA Registered Nurse NICU Day North Central Baptist||San Antonio|
|Sevita||Life Skills Coach||San Antonio|
|Methodist Healthcare at Home||Registered Nurse Home Health||San Antonio|
|Bakerly Barn||Inventory Control Specialist (Logistics) - Food Manufacturing||San Antonio|
|Taco Bell||Shift Manager||San Antonio|
|Taco Bell||Team Member||San Antonio|
|Latino Factor||Route Sales Representative||San Antonio|
|Service Experts||Commercial Sales Consultant (EENA)||San Antonio|
|Best Buy||Direct Sales Representative||San Antonio|
|Audi Dominion||Parts DriveOutside Sales Rep.||San Antonio|
|Schwan’s Home Delivery||Route Sales Representative||San Antonio|
2023.03.23 15:43 SchlesingerMindy323 [HIRING] 20 Jobs in San Jose Hiring Now!
|Intermountain Healthcare||Riverton Hospital Gift Shop Volunteer||San Jose|
|Snap on||Technical Sales Representative - ADAS Specialist||San Jose|
|CBRE||Commercial Prop Manager||San Jose|
|Restaurant Depot||Picker||San Jose|
|Hologic||Oncology Account Executive - Chicago N/Wisconsin||San Jose|
|ARAMARK||Route Sales Representative||San Jose|
|Custom One Truck Source||Yard Attendant||San Jose|
|Hormel||Jennie-O Turkey Store - SEMN - Farm Maintenance Worker - SEMN - Medford, MN||San Jose|
|State of Indiana||Test Barn Attendant - Shelbyville 2023||San Jose|
|PPG Industries||Technical Sales Representative - Protective & Marine Coatings||San Jose|
|Tribal Government||Farm Laborer - Seasonal||San Jose|
|Stars Bay Area Inc||Payroll Administrator||San Jose|
|Benco Dental||Territory Sales Representative||San Jose|
|Razorjack Recruiting/RG Resources||Territory Field Sales Representative - TPR||San Jose|
|Manpower Group Inc.||Territory Sales Representative||San Jose|
|Bausch + Lomb||Bausch Lomb Ocular Specialty Representative - San Jose, CA||San Jose|
|AmeriGas||Territory Sales Representative - San Jose, CA||San Jose|
|Arrow ECS||Field Sales Representative- IP&E||San Jose|
|Bruker||Field Sales Representative, Applied Markets - Western Region||San Jose|
|Saltalk||Field Sales Representative||San Jose|
2023.03.23 15:13 SchlesingerMindy323 [HIRING] 25 Jobs in AL Hiring Now!
|ALIGN PRECISION||Cnc Machinist||Cottondale|
|Pilchuck Veterinary Hospital||Barn Attendant||Albertville|
|FSR||Physician Assistant / Nurse Practitioner||Albertville|
|Peet's||Route Sales Rep Vacation Relief||Alexander City|
|Pennsylvania State University||Part-time PPEM Farm||Auburn|
|UNAVAILABLE||Caine Dairy Farm Worker||Bessemer|
|GPAC||Seeking a PHARMACEUTICAL SALES REP||Bessemer|
|Advance Auto Parts||Commercial Parts Pro||Birmingham|
|Silke Communications Solutions||Senior Territory Sales Representative||Birmingham|
|Koch Industries||Architectural Sales Manager (Mid Atlantic)||Birmingham|
|Frito Lay North America||Route Sales Representative||Birmingham|
|The Salvation Army||Nursery Worker 2nd Job (EXTRA) - CAS/Riverside Corps||Birmingham|
|LHM Ford Mesa||Outside Parts Sales Representative||Decatur|
|Cielo Williams Lea Group Ltd||Hybrid Document Production Associate||Dothan|
|The Dentele Group||"Hunter" Territory Sales Rep Uncapped Commission||Dothan|
|Advance Auto Parts||Commercial Parts Pro||Dothan|
|IQVIA ICIMS||Pharmaceutical Sales Representative - Long Island/Queens, NY||Fairhope|
|Frito Lay North America||Route Sales Representative||Foley|
|Custom Truck One Source||Yard Attendant||Huntsville|
|Monalisa Marketing||Territory Sales Trainee - Full Time||Huntsville|
|Oregon State University||Farm Services Crew Member||Huntsville|
|Winn Dixie Retail Stores||Seafood Associate||Huntsville|
2023.03.23 08:58 CielsEarlGrey go on
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2023.03.23 08:30 revarenner How do Fast Action Keto Gummies work? Where do I buy the original products’ official site?
2023.03.23 05:22 TimmyTwoTongues Thursday night red barn
2023.03.23 03:25 ScamsungGalaxy Schlotzsky's - Free small sandwich with a 30 oz. drink purchase
|submitted by ScamsungGalaxy to coupons [link] [comments]|
2023.03.22 19:55 Necessary_Scarcity92 Turnaround Viability Brain Dump
Hi. I too like the stock, but I don't mess around with tinfoil too much. I stick my meat straight on the grill and ramble incoherently until I self-validate my investment decisions.submitted by Necessary_Scarcity92 to ThePPShow [link] [comments]
Disclaimer: I thought I'd post my ramblings here and see what y'all think --- Maybe this is the wrong place to post, IDK. Sorry if it is. Obviously none of this is financial advice - this is all for entertainment purposes only - do your own research and don't trust anything you read on the internet. Some of this stuff might be wrong, I might be telling an incomplete story, etc. Please let me know where this might be erroneous or misleading.
This post is not about squeezing, technical stock price movements, or anything like that... I'm just looking at the reasonableness for going long on BBBY just based on the fundamentals.
Bear with me here, because I think it's important to start with the ugly past before contemplating a glorious future.
1. BBBY's Financial History & The Company's DownfallYou don't have to be a rocket scientist to see the long-term historical trend. It's not great:
Source: SA Profitability (EBITDAR is Earnings Before Interest, Taxes, Depreciation & Amortization, and Rent)
Total revenue grew each year until Fiscal Year Ended ("FYE") March 2018, at which point it started dropping. Gross margins have been shrinking each year, and OpEx as a % of Revenue has been steadily climbing:
Source: SA, BBBY Common-Size Financials
And, amid this environment, the company spent huge amounts of cash on repurchasing its stock:
Source: SA, BBBY Cash Flow
As we stand today, BBBY has a weak balance sheet (cash was poured into stock buybacks) and a weak P&L as the Company has been unable to mitigate the downward trend in profitability that has been occurring since 2013. (Note: Despite the equity offering and potential future slugs of cash, I still think BBBY has a pretty weak balance sheet, although the equity offering saved BBBY from a certain death IMO.)
I've heard people citing Mark Tritton's involvement, the switch to private label brands, etc. as factors contributing to BBBY's decline. I think the macroeconomic story is more important: e-Commerce has been taking market share from brick-and-mortars for years.
e.g., this article lays out how Wayfair has been taking market share from BBBY and has been - in my view - basically price gouging brick-and-mortar home furnishing retailers to gain market share at the expense of profitability: https://www.fool.com/investing/2022/09/04/the-hidden-reason-behind-bed-bath-beyonds-demise/
As a side note, Wayfair's been hemorrhaging more cash than BBBY for years. Covid is the only driver that made Wayfair have positive EBITDA in 2020 (and barely positive EBITDA in 2021), because everybody and their mother's mother was 1) buying online and 2) redoing their houses.
2. BBBY e-CommerceThis article, despite being incredibly bearish, says 37% of BBBY's revenue is online:
37% of 2022 Revenue of $6.2B is $2.3B.
That's close-ish to this article, which projects BBBY's e-commerce revenue was $2.05B for FYE 2/28/22 and $2.62B for FYE 2/28/21:
We already said COVID (2020/2021) was an anomaly for e-commerce sales. Maybe somewhere in the ballpark of $1.8B to $2.0B is a more reasonable baseline for going-forward e-commerce sales. That's not considering that BBBY might lose some of that e-commerce revenue since physical store count likely drives that revenue to some degree.
Interestingly, though, BBBY's website traffic has increased significantly lately:
This might be because redditors have been clicking "investor relations" a million times a day--- I don't think it's fair to say online sales will increase ratably, but it still looks bullish as hell to me.
3. Management's Turnaround PlanLet's start with what BBBY's management team has represented in SEC Filings. If you're only going to read one, read the Cleansing Materials on 2/6. You can skip to TLDR below these comments to see what I took away:
1/10/23: Q3 Results
“At the beginning of the third quarter, we initiated a turnaround plan anchored on serving our loyal customers, following a period when our merchandise and strategy had veered away from their preferences. Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals. We will continue to rebalance our assortment towards National Brands and refine our Owned Brands mix to reflect the deep understanding of our customer, along with the selection and value only we can offer in the Home and Baby markets. We are actively pursuing higher in-stock levels to meet proven demand.”Source: https://www.sec.gov/Archives/edgadata/886158/000088615823000002/exhibit991-pressreleaseq32.htm
2/6/23: Cleansing Materials
"Plans for current store fleet optimization program to be expanded to more than 400, including closure of an approximately 150 additional lower-producing Bed Bath & Beyond stores, which builds on closure of approximately 200 Bed Bath & Beyond stores and approximately 50 standalone Harmon stores in the U.S.Source: https://www.sec.gov/Archives/edgadata/886158/000119312523025748/d441746dex992.htm
2/7/23: Completion of Public Equity Offering and Provides Strategic Update
"The Company will continue to execute its customer-focused turnaround plans by optimizing its store footprint, investing in inventory, and pursuing infrastructure improvements. Specifically, the Company has initiated incremental store closures in its Bed Bath & Beyond banner with an ultimate operating goal of approximately 360 stores, in addition to approximately 120 buybuy BABY stores, across the U.S. In response to evolving shopping preferences today, this target store base includes the Company’s most profitable locations and best geographic presence for customers that can enable an optimal omni-experience. The digital channel is expected to rise to a higher proportion of sales with improved channel profitability."Source: https://www.sec.gov/Archives/edgadata/886158/000119312523027117/d455173dex991.htm
3/8/23: Receives Additional Proceeds from Previously Announced Public Equity Offering
“Over the past month, we have been rebuilding our financial and operational positioning to execute our customer-focused turnaround plans. Since closing our equity financing last month, we have engaged with suppliers to improve our inventory positioning and we have continued to optimize our brick-and-mortar footprint through store closures to align with customer preference. Additionally, as announced last week, we paid the outstanding interest due on all Senior Notes, which has been acknowledged by key constituents such as credit agencies. We continue to work with determination and diligence to fulfill both our near- and long-term goals of maximizing prospects for all stakeholders.”Source: https://www.sec.gov/Archives/edgadata/886158/000119312523063828/d821169dex991.htm
TLDR of BBBY Management Comments:
4. Macro-Economic OutlookOverall, it looks like brick and mortars might be making a bit of a comeback in terms of stealing back some market share from e-commerce, albeit amidst headways from a slowing economy and high inflation.
I think this is pretty obvious, but banks collapsing would screw over consumer spending and would likely nix any shot of a comeback BBBY has, though.
Here's a bunch of articles:
In a nutshell, I think there are pros and cons here. If we experience total economic collapse, of course BBBY will suffer.
5. A Note on Store ClosuresHere's historical store count, as far as I can tell:
Source: Me, looking at SEC filings. These numbers could be all totally wrong. Do your own research.
So we know BBBY plans to get down to 480 stores - from 927 at end of Q3 2022. My first thought was damn: That's a lot of leases to get out of.
For the longest time, that was my biggest fear with this investment. Then I read this article:
...and I was pretty relieved. I'm sure there will still be plenty of expenses related to getting out of these leases, but I think less than I initially expected. That article also seems to suggest brick-and-mortar optimism.
6. Gut-Check on Turnaround ViabilityManagement's plan sounds great, but the obvious question is whether they can execute.
Profitability data re: stores being closed vs. retained is not publicly available, so that really makes this a big guessing game. You can look at average data per store and how that trended over time, but there's not any way to get a good guess on how these 480 stores will perform compared to the average of the 900+ stores the company had to choose from.
I don't think we have any idea how much more profitable the stores being kept are in comparison to the stores being closed, but I think it's fair to say the company would only keep the cream of the crop, so for fiscal 2023 we should see higher revenue and gross profit per store figures. There will also be a higher load of SG&A overhead allocated per store, even with cost savings.
Here's some numbers. The blue ones I totally made up and are in no way a guarantee of what will happen. This is basically napkin math:
These are numbers I made up and are not financial advice. Do your own due diligence and talk to a financial advisor. You're responsible for your own investments.
My glasses are a bit more rose-colored than analysts that seem to have a consensus EPS estimate of -$1.96 for Q4. Of course, their numbers include depreciation and mine does not, so that's kind of like comparing apples to oranges.
But all-in-all, I used this napkin math to try and look at the reasonableness of the turnaround plan. I wasn't able to reasonably see 'mid-single-digit EBITDA margins' for fiscal 2023, but it seems doable so long as:
Say, in this crazy hypothetical world where BBBY successfully turns around, net margins get up to 5.0% by 2024.
5% on $5.1B of revenue is $255M Net Income. Toss sector median P/E multiple on that and you're at....$3.8B market cap?
I lose a lot of people because I think dilution has happened, but I'm fine with that. Nobody likes dilution, but it's the cost of getting through a turnaround. Let's assume 900M shares outstanding by 2024.
Divide $3.8B market cap by 900M shares and you're looking at... $4.25/share. I'm not saying that's what the stock is worth today, just a little exercise in what could possibly be a reasonable value after a very successful turnaround assuming full dilution.
TLDR: IDK? BBBY's turnaround seems viable if Management can execute the plan. There might be some actual deep value here if brick-and-mortars take back some market share... even if there's no squeeze and no M&A activity. Not financial advice.
2023.03.22 17:07 ZachAttack0092 Ross came through again!
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2023.03.22 16:27 DNVRGIRL85 First horse, “best” breed?
2023.03.22 16:00 ggroover97 What is the most you've ever bought during a Criterion/Barnes & Noble sale?
2023.03.22 15:21 tho2622003 Help me with my save files!