![]() ![]() Contact him at Sign up for his weekly newsletter, Real Estate with Richard Mize. Senior Business Writer Richard Mize has covered housing, construction, commercial real estate and related topics for the newspaper and since 1999. The 'want products' are the first to be eliminated to save for the necessities. The retail survivors and thrivers continue to be discount brands and grocers." COVID government aid masked those troubled, and bought time for these struggling, retailers," he said.įurther, Swanson said, "Inflation has condensed consumer spending budgets dramatically. "Retailers like Bed Bath & Beyond, Party City, Tuesday Morning, etc., have been struggling for years trying to keep up with Amazon pricing/convenience while operating in large expensive retail footprints. Swanson said the chain, among others, has long struggled to keep its bricks-and-mortar stores competitive with online shopping. There is significant doubt if it will work without bankruptcy." "The turnaround plan isn’t pretty - cutting 20 percent of the workforce, closing another 150 stores, going back to name brands, borrowing more money. "At the end of the day, Bed, Bath & Beyond lost touch with their customer, and management hasn’t been able to get it back. And, they borrowed too much money," he said. Competition in the home goods sector increased significantly. "They went away from name brands, opting for in-house brands. Parrack said some of Bed Bath & Beyond's wounds are "self-inflicted." Further informationĪlways consult your healthcare provider to ensure the information displayed on this page applies to your personal circumstances.More: Want to know where that restaurant went and what's coming? Here's what we know about OKC's dining scene What happened to get Bed Bath & Beyond in such financial trouble? © Copyright Merative 2022 Information is for End User's use only and may not be sold, redistributed or otherwise used for commercial purposes. Talk to your doctor, nurse or pharmacist before following any medical regimen to see if it is safe and effective for you. Bed Bath and Beyond offers one of the largest selections of products for your home at everyday low prices. It is not intended as medical advice for individual conditions or treatments. Also as part of a bid to avoid bankruptcy, it is planning a public stock offering. The above information is an educational aid only. Bed Bath & Beyond is closing another 150 stores, including Coralvilles. You always have the right to refuse treatment. Discuss treatment options with your healthcare providers to decide what care you want to receive. Learn about your health condition and how it may be treated. You have the right to help plan your care. ![]()
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