![]() ![]() By 2011, Bed Bath & Beyond had 1,142 stores. īed Bath & Beyond began international expansion in 2007, opening the chain's first Canadian store in Richmond Hill, Ontario. In 2002, the company acquired Harmon Discount Health & Beauty, later renamed Harmon Face Values. īed Bath & Beyond first reached $1 billion in annual sales in 1999. The company adopted integrated computer-based inventory management systems in 1993 to better compete with Linens ‘n Things, which had utilized computer inventory management since the late 1980s. The following June, the company went public, making its IPO on the NASDAQ stock exchange, where its stock continues to trade under the ticker symbol BBBY. In 1991, Bed Bath & Beyond had opened seven new superstores in New Jersey, California, Virginia, Illinois, Maryland, and Florida. In order to properly represent the size increase in its retail stores, the company changed its name to Bed Bath & Beyond in 1987. Also in 1985, the first superstore was opened, as an attempt to remain competitive with Linens 'n Things, Pacific Linen, and Luxury Linens. By 1985, Eisenberg and Feinstein were operating 18 stores in the New York metropolitan area and California. ![]() In 1971, they opened a store in Springfield, New Jersey, called Bed 'n Bath. As the company suffered financial difficulties, and the two believed that the market would shift toward specialty stores, they decided to leave and form their own company. Warren Eisenberg and Leonard Feinstein worked in management positions at discount store chain Arlan's. The company's name and trademarks were acquired by, which plans to rebrand itself under the Bed Bath & Beyond name later in 2023. All remaining Bed Bath & Beyond stores, as well as all locations of subsidiary Buy Buy Baby, are holding liquidation sales, and will close in July 2023. In April 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy, and announced that it would be winding down its operations after several failed attempts to turn around the company. Headquartered in Union, New Jersey, the company was once counted among the Fortune 500 and the Forbes Global 2000. The chain operates stores in the United States and Mexico, and previously in Canada. is an American big-box retail chain specializing in housewares, furniture, and specialty items. īed Bath & Beyond in Markham, Ontario, 2018.This location was among the last in Canada, closing in April 2023.īed Bath & Beyond Inc. at the Wayback Machine (archived )įinancials as of February 26, 2022. Aside from 150 store closures, the company plans to lay off even more corporate workers.īrian Sozzi is an editor-at-large and anchor at Yahoo Finance. In an approximately 10-minute earnings call with no analyst questions, Gove outlined $80 million to $100 million more in cost cuts. ![]() The company ended the holiday quarter with only $153.1 million in cash on the balance sheet, a position that has vendors nervous to the point they are withholding shipments to the company or raising credit terms. REUTERS/Keith Bedford (UNITED STATES - Tags: BUSINESS)ĬEO Sue Gove reiterated on Tuesday that all options remain on the table to save the retailer.īed Bath & Beyond's quarterly sales crashed 33% from the prior year, leading to a $225 million adjusted operating loss. A shopper carries her bags as she leaves a Bed, Bath, and Beyond in New York, June 23, 2010. ![]()
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