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Time's Sean Gregory looks at Bed Bath & Beyond (BBBY):

Call it the Bed Bath & Beyond barometer. Some recent data indicate that as consumers prepare to open up their wallets, they'll be very likely to spruce up their homes. According to a survey from WSL Strategic Retail, of shoppers who say they want to splurge, 44% want to do so on their digs. NPD Group, a market-research firm, also found that when shoppers are asked where they are most likely to spend money, a majority point to their homes. "The nest is where we'll likely see the early signs of a recovery," says Marshal Cohen, a retail analyst at NPD Group.

On a June evening at a sprawling Bed Bath & Beyond store in New York City, a checkout line snaked around the corner as consumers hoarded pots, soaps and Cuisinarts. "Your home is your place of comfort, the only thing you can count on," says Tina Genitti, 21, while carrying a featherbed, a pillow and body creams to the checkout line. "A few months ago, I would have gone for the cheap featherbed. But I spent the extra $5 here because it's time for a treat."

Posted by edelfenbein at July 2, 2009 10:24 AM