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☆ Bed Bath & Beyond poised to join the list of 'zombie brands' like Radio Shack and Toys R Us
▼ + stars: | 2023-06-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond has reached a deal to sell its primary brand assets to Overstock for $21.5 million. The agreement covers trademarks, business data, and e-commerce sites, but not stores or inventory. The sale will make the former housewares giant the latest retail "zombie brand." A shuttered Bed Bath & Beyond store in suburban Detroit. The survival of Bed Bath & Beyond on paper and online will make it the latest retail "zombie brand" — a list that includes former industry titans like Radio Shack, Lord & Taylor, and Toys R Us, whose new owners aim to cash in on the label's established credibility with customers.

Persons: —, Overstock.com, Leslie J, Allen, Taylor Organizations: Service, Bed, titans, Radio, New York Times, & $ Locations: New Jersey, Detroit

☆ The Hotel That Started as a Gift Shop
▼ + stars: | 2023-06-20 | by ( Shannon Eblen | ) www.nytimes.com time to read: +1 min

But by her early 30s, Ms. Maldonado said, she had become uninspired by her career. In 2015, Ms. Maldonado, now 39, recalled thinking, “What if I start a modern gift shop?”Soon after, she started a website, Yowie, that sold housewares, like ceramic cups and bowls. (When considering names for the website, yowie, an Australian word synonymous with yeti or Bigfoot, emerged as a favorite and stuck.) Ms. Maldonado soon quit her job at American Eagle to focus on the business. Recently, she moved the store again, to a much bigger space on the ground floor of a new Yowie hotel designed and co-owned by Ms. Maldonado.

Persons: Shannon Maldonado, Maldonado, Tommy Hilfiger, Ralph Lauren, Ms, . Maldonado Organizations: Fashion Institute of Technology Locations: New York, Japan, Philadelphia, Queen

☆ Macy’s slashes its full-year outlook even as earnings beat
▼ + stars: | 2023-06-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The Macy's company signage is seen at the Herald Square store on March 02, 2023 in New York City. Macy's shares fell on Thursday, as the retailer slashed its full-year outlook and said it saw sales significantly weaken in late March. Macy's anticipates comparable owned-plus-licensed sales will fall 6% to 7.5% during the period, worse than its previous outlook of a 2% to 4% decline. Comparable sales on an owned-plus-licensed basis dropped 7.2% for the quarter, worse than the 4.7% drop expected by analysts surveyed by Refinitiv. Gennette said Macy's sales have gotten hit as customers' budgets are squeezed.

Persons: Jeff Gennette, Macy's, Gennette, we're Organizations: Herald, CNBC, Refinitiv, Macy's, Revenue, Sales, Nike Locations: New York City, Bloomingdale's

☆ How a Food Stylist and Housewares Designer Spends Her Sundays
▼ + stars: | 2023-05-21 | by ( Julia Bozzone | ) www.nytimes.com time to read: 1 min

Like many other New Yorkers, the food stylist had to work inside of her own apartment or at other nearby locations to finish the project on time. To evoke different regions of Colombia, she and her photography team experimented with color, lighting, flowers and textiles. The result was a book that was less about travel and more about sharing Colombian food and culture. Her native country approved: Photographs from the 2021 book have been used in a series of new Colombian stamps. In addition to her work for clients like Bon Appétit, Saveur and Williams-Sonoma, last year Ms. Velásquez founded Casa Velasquez, an entertaining line that includes aprons, linens and tableware.

☆ The Scramble to Take Over What Bed Bath & Beyond Left Behind
▼ + stars: | 2023-05-18 | by ( Jordyn Holman | ) www.nytimes.com time to read: +2 min

Competitors of Buy Buy Baby, which Bed Bath & Beyond owns and is also being liquidated, are seeing benefits, too. Babylist, an online registry business, said the number of registries created on its platform in the last few weeks since Bed Bath & Beyond filed for bankruptcy was 35 percent higher than a year ago. Bed Bath & Beyond and Buy Buy Baby suppliers have been revising their strategies in recent months. Still, because Bed Bath & Beyond is known for its ability to carry a vast array of products, it continued to attract smaller companies trying to raise their profiles. In August, when Bed Bath & Beyond rolled out its turnaround plan, Buy Buy Baby cut its order with Primary, as it did with several other suppliers.

☆ Bed Bath & Beyond will reportedly pay severance to 1,293 workers in New Jersey after it faced sharp criticism over prior cuts
▼ + stars: | 2023-05-08 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Bed Bath & Beyond will cut another 1,293 jobs in its home state of New Jersey, public records show. New rules in the state mean the company will need to pay severance to those employees. Cryan sponsored legislation, which took effect on April 10, requiring large employers to pay severance to more employees than is required under federal law. New Jersey law broadens severance coverageMark Diana, a management-side employment lawyer with Ogletree Deakins, previously told Insider the new law requires employers to:Give 90 days' notice of a mass layoff. Pay mandatory severance of one week's earnings per year of service, with no cap on the number of weeks.

☆ Amazon, Target, and Walmart will be the biggest winners from Bed Bath & Beyond's demise
▼ + stars: | 2023-05-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Bed Bath & Beyond has filed for bankruptcy and is conducting an "orderly wind down" of its stores. 1 in several of the categories that Bed Bath & Beyond is best known for: kitchen and bathroom supplies, decor, storage, and bedding. Consumers will have fewer options with the demise of Bed Bath & Beyond, said Peter Greene, Numerator's Insights Practice Director for General Merchandise, in a statement. "Bed Bath & Beyond was slow to embrace and adopt the e-commerce boom, which was pioneered, advanced, and utilized to great success by direct competitors like Target, Walmart, and Amazon," Bed Bath & Beyond CFO Holly Etlin wrote in bankruptcy filings. Bed Bath & Beyond's sales plummeted from $11.1 billion in 2019 to an estimated $5.4 billion in 2022.

☆ The Last Haul From Bed Bath & Beyond
▼ + stars: | 2023-04-28 | by ( Jeenah Moon | ) www.nytimes.com time to read: 1 min

Allan Shelby, 50, left, and Brent Reno, 46, with their cake stand and other housewares. They said they expected to see bigger deals. But they said they love the store, so this might not be their last trip.

☆ Bed Bath & Beyond files for bankruptcy
▼ + stars: | 2023-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Chris Hammons unloads a bag of items she purchased at a Bed Bath & Beyond store in Dallas, Texas September 23, 2009. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year.

Organizations: & $

☆ Ikea is spending over $2 billion to open 8 new US stores, with an eye on locations in the South, plus 9 design centers
▼ + stars: | 2023-04-21 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +2 min

The furniture retailer will open eight new stores and nine smaller locations over three years. Ikea's expansion comes as other big-box retailers are cutting jobs or closing stores. The Swedish furniture retailer announced plans to open eight new stores and nine new "plan-and-order points," smaller locations where customers can design kitchens, bathrooms, and living rooms and select furnishings. Ikea will also upgrade its existing US stores and add 900 customer pick-up locations nationwide as part of a three-year plan. The investment comes at a time when other big-box retailers, including Bed Bath & Beyond and Walmart, are closing locations across the country.

☆ Why retail crime rings target cheap goods at Walmart and CVS and skip luxury stores
▼ + stars: | 2023-04-14 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

Only 11% of organized retail crime groups target luxury goods, per a recent NRF report. Items most targeted for organized retail crime include apparel and health and beauty products. In fact, luxury goods like jewelry and watches are rarely targeted by criminals. This is due to luxury items being sold in stores with enhanced security measures, the report said. Organized retail crime instead often targets more of the everyday goods available at stores like Walmart, CVS, and Target with less security protecting it.

☆ Here's how Jim Cramer thinks the banking crisis will impact the consumer
▼ + stars: | 2023-04-03 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

While Federal Reserve interest rate hikes may have slowed, the economic downturn they could have brought on is still possible, CNBC's Jim Cramer said on "Mad Money" on Monday. That's because the banking crisis that began with Silicon Valley Bank could very well "hasten the downturn that never seemed able to get off the ground," Cramer said. Rather, it'll show up in how consumers and small businesses alike are able to obtain credit, he said. And for travelers, it might mean Yellowstone instead of a bonanza overseas trip, Cramer said. But the consumer is most likely to feel the sting at home, at the dealership and when they're planning their vacations, he said.

☆ Bed Bath & Beyond's ousted CEO says he's not to blame for the company's failed turnaround and demands his $6.7 million severance
▼ + stars: | 2023-04-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Former Bed Bath & Beyond CEO Mark Tritton is suing the company, alleging non-payment of his severance agreement. Bed Bath & Beyond said Thursday it needs to raise up to $300 million in new funding to avoid bankruptcy. A representative for Bed Bath & Beyond told Insider the company does not comment on legal matters. One of Bed Bath & Beyond's biggest problems in 2019, the suit says, was its failure to have a serious private-label strategy and Tritton was specifically hired to give it one. If you are a current or former employee of Bed Bath & Beyond or Harmon who would like to share your story, please get in touch with Dominick via email.

☆ Bed Bath & Beyond set to complete a round of layoffs in New Jersey the day before a new state law takes effect that would mean millions more in severance for workers
▼ + stars: | 2023-03-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Bed Bath & Beyond is closing 43 stores, two warehouses, and one fulfillment center in New Jersey. New layoff rules go into effect on April 10 in the state, which could have cost the company millions. On the morning of Tuesday, January 10, Bed Bath & Beyond CEO Sue Gove offered a rosy update about the company's turnaround strategy during its third-quarter earnings call. Representatives for Bed Bath & Beyond did not respond to Insider's question about whether the law influenced the timing of its New Jersey closures. Unlike prior cuts in which as many as 12 weeks of severance pay were given, Bed Bath & Beyond workers in several states affected by this round of layoffs tell Insider they will receive nothing.

☆ Bed Bath & Beyond is reportedly skipping on severance payments for workers
▼ + stars: | 2023-03-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond is skipping out on some severance payments, Bloomberg reported Thursday. More than 400 locations are slated to close as the company aims to avoid filing for bankruptcy. Bed Bath & Beyond has previously paid as much as 12 weeks' wages — worth several thousand dollars — in severance packages for employees as recently as last year, per Bloomberg. Denying severance for store employees could complicate efforts to finish selling inventory, as some workers are quitting their jobs weeks before their locations actually close, Bloomberg reported. Are you a Bed Bath & Beyond employee affected by these closures?

☆ 'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods
▼ + stars: | 2023-02-23 | by ( Siddharth Cavale | ) www.reuters.com time to read: +4 min

Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while". "Food inflation has been the most stubborn of all the categories," Walmart's U.S. CEO John Furner said. Sharp sales declines in categories other than food are forcing retailers like Target (TGT.N) to slash prices on everything from toys to electronics. While groceries comprise 56% of Walmart sales, they make up about 20% of sales at Target, which depends more on home furnishings, apparel and beauty.

☆ T.J. Maxx and HomeGoods are reaping huge benefits from store closures and shopping slowdowns that are crushing other retailers
▼ + stars: | 2023-02-23 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

T.J. Maxx and HomeGoods are benefiting from the struggles other retailers are facing, parent company TJX says. Store closures and slowdowns mean there's more, better inventory for TJX brands to choose from. TJX is also seeing an influx of customers as competing brands close stores nationwide. Those struggles have led customers to flock to TJX chains, Herrman said. "We're attracting new customers, we're opening new stores, and we're likely to benefit from other home store closures," Herrman said.

☆ Bed Bath & Beyond used to have over 1,000 stores. Soon, it will have just 360.
▼ + stars: | 2023-02-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Bed Bath & Beyond plans to slim down to just 360 housewares stores nationwide. "We continue to put our customers at the center of every decision, positioning Bed Bath & Beyond to meet and exceed their expectations," CEO Sue Gove said in a statement. Bed Bath & Beyond did not immediately respond to Insider's request for comment. "Store closings, especially of this magnitude, are a symptom of a problem," Saunders said. "Suppliers are very nervous about Bed Bath & Beyond," Saunders said.

☆ How Bed Bath & Beyond ended up on the verge of bankruptcy
▼ + stars: | 2023-02-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Here’s how Bed Bath & Beyond, once a retailer pioneer, veered to the edge of bankruptcy and where it turns next. Brands coveted a spot on Bed Bath & Beyond’s shelves, knowing it would lead to big sales. Discount chains such as HomeGoods and TJ Maxx and have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. Otherwise, too much of Bed Bath & Beyond’s revenue will go toward repaying debt that it won’t be able to turn a profit.

☆ Bed Bath & Beyond's 4 key bets that became its biggest blunders
▼ + stars: | 2023-02-06 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Bed Bath & Beyond's spiral toward bankruptcy is the result of four big missteps, Bloomberg reports. But it also bet too big on private-label brands and initiated a too-ambitious stock buyback program. But its challenges began years ago, with four key decisions leading to its financial woes, company insiders told Bloomberg. Here are Bed Bath & Beyond's biggest missteps over the years:Missing out on the online shopping boomBed Bath & Beyond's success in brick-and-mortar retailing meant that it was slow to recognize the importance of e-commerce and invest in selling goods online. "Our customer has communicated clearly that national brands are a really important part of their shopping experience with us," Mara Sirhal, Bed Bath & Beyond's brand president, said during a financial-update call.

☆ Bed Bath & Beyond just missed another debt payment. See the full list of stores it will close, including Harmon and Buybuy Baby locations.
▼ + stars: | 2023-02-02 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +20 min

In addition to 87 more Bed Bath & Beyond stores, the company now says it will close all of its remaining Harmon health and beauty stores, and five Buybuy Baby stores. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. Marina: 117 General Stilwell Drive117 General Stilwell Drive Vallejo: 105 Plaza Drive, Suite 107105 Plaza Drive, Suite 107 * Palm Desert: 72459 Highway 11172459 Highway 111 * Visalia: 3125 South Mooney Blvd. Arterial * Coralville: 2515 Corridor Way Suite 5Kansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd Place425 3rd Place * Olathe: 15335 W. 119th St.Kentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd.

☆ Kohl's vs. T.J. Maxx: 5 reasons I find shopping at Kohl's faster, cheaper, and less overwhelming
▼ + stars: | 2023-01-30 | by ( Danielle Bauter | ) www.businessinsider.com time to read: +5 min

Danielle Bauter recently compared shopping at her local Kohl's and T.J. Maxx in Upland, California. Though T.J. Maxx offers more variety, Bauter said shopping there makes her feel a bit overwhelmed. T.J. Maxx also has a rewards program, but it requires that you sign up for a TJX Rewards credit card. Kohl's carries fewer brands than T.J. Maxx, but they speak more to my styleBauter compared shopping at T.J. Maxx to shopping at Kohl's. Though T.J. Maxx carries a wider variety of designers, I can be easily overwhelmed by too many options.

☆ Bed Bath & Beyond sinks 35% after the retailer says it lacks funds to pay debts and receives a default notice from JPMorgan
▼ + stars: | 2023-01-26 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond shares plunged Thursday after a fresh warning about its struggling financial condition. The struggling housewares retailer said it lacked funds to pay down debt, and JPMorgan said it was in loan default. Bed Bath & Beyond has already said it may have to file for bankruptcy. Bed Bath & Beyond also said it received a notice of default from JPMorgan related to an amended credit facility, with the investment bank saying repayment was immediately due. The update follows the company's warning earlier this month that its troubled financial conditions may force it to file for bankruptcy protection.

☆ Organized retail thieves' most-wanted list: Survey reveals which items are most likely to be stolen from stores
▼ + stars: | 2023-01-21 | by ( Ben Tobin | ) www.businessinsider.com time to read: +4 min

Organized retail crime has contributed to a $94.5 billion inventory-shrink problem for the retail industry. Retail criminals steal across many different product categories, per the National Retail Federation. Here are the most popular items targeted for organized retail crime as identified by the National Retail Federation, in no particular order. Shoshy Ciment/Business InsiderDesigner handbagsFashion and fine jewelryBeltsWatchesDesigner sunglassesBranded eyewearFootwearShoe retailers need to be wary of organized retail criminals. REUTERS/Jessica DinapoliInfant formulaInfant and toddler itemsChildren's toysOtherGift cards also aren't safe from organized retail crime.

☆ Bed Bath & Beyond is closing dozens of stores in 2023 — see the full list
▼ + stars: | 2023-01-10 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +10 min

Bed Bath & Beyond released an updated list of store closures set to take place by March. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. ArterialKansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd PlaceKentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd. Wisconsin:Mequon: 11110 N. Port Washington RoadPuerto Rico:Bayamon: Plaza Del Sol, 725 West Main Ave.Do you work for Bed Bath & Beyond?

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