Q. With Linens 'N Things Inc. liquidating, I would think that the stock of Bed Bath & Beyond Inc. would be up. Why isn't it? — P.L., via the Internet

A. Although the premier home-furnishing retailer has gained market share from the bankruptcy filing of that primary competitor, the deeply discounted closeout at Linens 'N Things has had a temporary negative financial effect.

The primary story for all retailers is the poor overall economy and cost-consciousness of consumers. The battered housing market is a drag on this firm's results, because customers tend to splurge on home-related products when they change residences.

Shares of Bed Bath & Beyond (BBBY) are down 15 percent since the end of 2007, following a 23 percent decline in 2006. It has bought back more than 1.2 million common shares in the past three years and recently authorised an additional $1 billion buyback.

Bed Bath & Beyond operates about 1,000 stores in 49 states, Puerto Rico and Canada, as well as a joint venture in Mexico.

Its namesake stores feature branded bed and bath accessories, kitchen textiles and cooking supplies. Some of those items are less discretionary and therefore provide some sales resiliency. It also operates the Christmas Tree gift and housewares shops, Harmon health- and beauty-care stores, and Buybuy Baby infant accessory stores.

The company is in outstanding financial health, with strong cash flow to fund the opening of new stores and no long-term debt. Although it has reduced its expansion plans to 50 or fewer new Bed Bath & Beyond stores this fiscal year because of the economy, it is expected to emerge from the recession in dominant fashion.

Consensus rating of the stock of Bed Bath & Beyond from Wall Street analysts is between "buy" and "hold," according to Thomson Financial. That consists of six "strong buys," three "buys," 10 "holds," one "underperform" and two "sells."