![]() Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. ![]() US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account “Transforming an organization of our size and scale requires time, and we anticipate that each coming quarter will build on our progress,” she said. On Thursday, CEO Sue Grove said “we have a clear vision for the future of the company” and asked for patience. Its losses grew 40% to $385 million from a year ago. The chain said in August that it will lay off approximately 20% of corporate employees, close around 150 stores and slash several of its in-house home goods’ brands.īed Bath & Beyond said Thursday that net sales for the company’s latest quarter, which included Black Friday, dropped 33% to $1.25 billion from the same time a year ago. The company also owns chidren’s retailer buybuy Baby. The company lost 17% of its sales in 2020 and 14% in 2021.īed Bath & Beyond has rotated through several different executives and turnaround strategies in recent years, including former Target executive Mark Tritton, who left the company last year after less than three years as CEO.Īs of February 2022, Bed Bath & Beyond had 950 stores and 32,000 workers. The company also was hit hard during the pandemic, closing stores temporarily durin 2020 while rivals remained open. Many shoppers switched to those competitors as the novelty of Bed Bath & Beyond’s coupons faded – consumers can find plenty of cheaper alternatives on Amazon Brands coveted a spot on Bed Bath & Beyond shelves.īut the company struggled to make the transition to online shopping and fend off larger chains such as Walmart The retailer became known for its ubiquitous 20% off blue coupons and cavernous stores with merchandise stacked high to the ceilings. Founded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. The company’s announcement marked the latest sign of trouble at one of the most popular retailers in America for decades. ![]() “All of this points to bankruptcy as being the most likely outcome.” “Bed Bath & Beyond is too far gone to be saved in its present form,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Thursday. It dipped below $2 a share, an all-time low. These retail chains may not survive a recession Empty shelves at a Bed Bath & Beyond location permanently closing in Northville, Michigan, US, on Saturday, Sept.
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