Another brick-and-mortar retailer struggling, perhaps fatally. It's not shutting all stores yet, but the future doesn't look good. Bed Bath & Beyond files for bankruptcy | CNN Business
Used to be a go too store but fell into disrepair with bad merchandizing and so much easier to use Amazon, Macys or Sur La Table for high end stuff.
These MAGA types are complete morons. I’m sure it had nothing to do with declining sales that predated the My Pillow removal by several years. Peak growth was through 2012, it plateaued through 2018, and has been in a free fall ever since. They have also lost money every year starting in 2018. Annual revenue Year Revenue Change 2022 (TTM) $6.21 B -26.37% 2021 $8.43 B -13.22% 2020 $9.72 B -14.43% 2019 $11.35 B -8.66% 2018 $12.43 B 2.22% 2017 $12.16 B 0.56% 2016 $12.09 B 0.64% 2015 $12.02 B 2.34% 2014 $11.74 B 0.39% 2013 $11.70 B 14.22% Bed Bath & Beyond (BBBY) - Revenue. Get ready for more of the same stupidity when Kohls and Wayfair both go under (Kohls is still treading making water, barely, and Wayfair has never made a profit) since they also removed My Pillow.
Not sure I agree. Kohl’s had a hiccup during covid but their revenues looks pretty good. They just need to right size the expense structure and not overbuy inventory. Kohl's Revenue 2010-2023 | KSS I suspect as people start buying work clothes again they’ll fair better.
Bed bath and beyond lost to Target and Walmart with an assist from Amazon. Too bad. The Target head who leaped Target forward went to BBB but apparently didn’t have a silver bullet or enough time, not sure which. I haven’t been there for years and I am exclusively a brick and mortar shopper. Stock Market Insights | Seeking Alpha
This is when your blue Bed Bath & Beyond coupons will stop working | CNN Business The following is dated Today- 4/23/23 - you have 3 days! New YorkCNN — After a tumultuous struggle to stay in business over the past several years, Bed Bath & Beyond declared bankruptcy on Sunday. That means your stash of its 20%-off coupons are about to be useless. Bed Bath & Beyond said it would sell off its merchandise and then go out of business. The company said customers will have Sunday, Monday and Tuesday to use their remaining 20%-off coupons. The company will stop accepting coupons on Wednesday. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales.
According to the right it's because the company has been the subject of a boycott after it stopped carrying Mike Lindell's pillows. Get Woke, Go Broke: Bed Bath & Beyond Files for Bankruptcy - Company Threw Conservatives Under the Bus and Dropped MyPillow Products | The Gateway Pundit | by Cullen Linebarger
Stock buybacks I looked up to confirm. $11.73 billion in buybacks since 2004 Bed Bath & Beyond: How stock buybacks undermined the company
They were in exponential growth mode prior to the year range you showed and have been stagnant ever since, and even in their best year made 11.6%. That was in 2010. Since the increased adoption of online shipping their earnings have steadily declined down to 5.5% and their past twelve months just 1.3%. Investors aren’t keen on its future either with a marketcap that has fallen from 25 to 5 billion. I wouldn’t want to work there just like the former Toys R Us general counsel I had the pleasure to speak with. Makes me feel good about my company with double their last 12 months income on less than a fifth of the revenue.
Technically they filed ch 11, but they are closing down nationwide. So in effect it’s a chapter 7. Normally when you see a ch 11 they intend to try and stay afloat, but in this case they are offering no allusions about staying in business longer term. They did just get some bridge financing before filing BK, so there are probably some technical/legal reasons for ch 11 instead of ch 7 but it’s not because they plan on keeping their stores open beyond the liquidation sales.
Every time I have tried to shop a liquidation sell they start by doubling the price then offer discounts off that.
Sur La Table is nicer for more high end quality cookware, but they are a cooking/dining store only. Not really competing with Bed Bath Beyond as they are missing the Bed and the Bath . Also, I’ve only ever seen 1 location of this chain in Naples,FL. Whereas almost every small city probably has had a BBBY, if not multiple locations. Sur La Table also went through its own bankruptcy process in 2020. So they probably aren’t very healthy either. Macy’s at one point also looked bad after the 2008-2009 financial crisis, although they bounced back to look like a winner… for awhile. Bottom line is it’s rough for specialty retailers. Amazon, e-commerce, and the big- box stores are eating everything.
