Attention shoppers: After 52 years in business, Bed Bath & Beyond may be on the brink of shutting its doors for good. For some loyal customers, this news might come as a total surprise—not to mention a less-than-awesome way to start 2023. (The retailer has been around since 1971, and it seemed like it'd always provide unbeatable home discounts and those signature Big Blue Coupons.) But, as the numbers suggests, business has been...well, a little rocky.
Not only did Bed Bath & Beyond struggle to transition their store to the digital world, but CNN also claims the store was "hit hard" by the pandemic, losing 17 percent of its sales in 2020 and 14 percent in 2021. In August 2022, the retailer revealed its plans to lay off 20 percent of its employees and close approximately 150 of its stores. To make matters worse, the Wall Street Journal reported that Bed Bath & Beyond's stock closed down 30 percent Thursday, January 5—its lowest share in decades. As Bed Bath & Beyond begins to file for bankruptcy, a regulatory filing CNN procured says there is "substanial doubt" of the company's ability to survive these retail woes.
Okay, enough with the business mumbo-jumbo, what does this mean for you? Simply put, your days shopping at Bed Bath & Beyond might be numbered. In fact, a quick scan of the site shows dramatic discounts such as $100 off Dyson vacuums, 20 percent off Breville's appliances, and $20 finds. (While the retailer often has ridiculously good discounts, these too-good-to-be-true sales feel worthy of a store-wide clearance.)
So, what are we supposed to do? Mourn Bed Bath & Beyond, make the most of its current deals, or hold out hope? That's your call, but no matter how this sticky situation shakes out, we will always have a soft spot for the bed, the bath, and, of course, the beyond.