Bed Bath & Beyond… bad - The Hustle
The Hustle

Bed Bath & Beyond… bad

A roundup of what’s happening with the retail giant.

Singdhi Sokpo

Nothing better than a good ol’ 20%-off coupon from Bed Bath & Beyond. Unless you are Bed Bath & Beyond.

A lot’s happened with the company the last few years, and especially this week. Here’s a quick rundown:

In 2019: Mark Tritton, a Target veteran, took over as CEO. His primary focus was reducing product counts, cutting back coupons, and shifting toward private-label brands — something Target’s historically done well.

In 2021: The company reached a $6.4B market cap as it got caught up with GameStop and AMC in meme stock mania, but sales fell significantly by year’s end.

This week: The company reported same-store sales dropped 24% from a year earlier, online sales fell 21%, and Tritton stepped down.

In the coming months, the company is expected to find a new leader, potentially a buyer for Buy Buy Baby, and ideally a future beyond its current state.

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