Bed Bath & Beyond was once a retail powerhouse and go-to destination for Americans in the market for home furnishings. But the big-box chain now finds itself on the doorstep to bankruptcy.
A Bed Bath & Beyond spokesperson told CBS MoneyWatch that the company has"a team with proven experience helping companies successfully navigate difficult situations and become stronger." Still, the company Experts point to three main reasons for the retailer's steady decline over the years.Bed Bath & Beyond opened as a privately held business in 1971 and went public in 1992. As the U.S.
During its heyday, Bed Bath & Beyond was led by former CEO Steven Temares, who Wedbush analyst Seth Basham described as an"old-school retail merchant" whose business model came down to"stack it high and let it fly." By the early 2000s it had opened hundreds of stores across the U.S., including many large-footprint outlets that required a constant flow of customers and that characterized how many Americans preferred to shop at the time.
Bed Bath & Beyond finally hopped on the e-tailing bandwagon after naming Mark Tritton, a former top Target executive, CEO in 2019. But by then the company was nearly a decade behind leaders in the field, Basham said. Key financial misstep
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