All articles tagged with #bed bath and beyond
California Governor Gavin Newsom mocked Kevin McCarthy for bringing up Bed Bath & Beyond in a political debate, responding with a sarcastic comment about Blockbuster, highlighting the retail chain's bankruptcy and struggles, as part of a broader political exchange over redistricting and business climate issues in California.
California Governor Gavin Newsom responded virally to Bed Bath & Beyond's CEO Marcus Lemonis criticizing California's business environment, with Newsom's retort gaining popularity online amid ongoing political and culture war tensions.
Bed Bath & Beyond announced it will not open stores in California, citing overregulation and high costs, as part of its comeback after bankruptcy, with the company's leadership criticizing California's regulatory environment and focusing on opening smaller stores elsewhere.
Bed Bath & Beyond announced it will not open new stores in California due to the state's overregulated and costly business environment, despite efforts to stage a comeback after bankruptcy, with plans to expand in other states and continue online sales.
Bed Bath & Beyond is making a comeback with a new store in Nashville under a slightly different name, Bed Bath & Beyond Home, managed by The Brand House Collective. The store will honor legacy coupons to attract customers, and additional locations are planned. This marks a significant step in the company's attempt to revive its brand after bankruptcy and store closures, though its financial struggles remain a concern.
Bed Bath & Beyond has been revived under a new name, Bed Bath & Beyond Home, by its intellectual property owners, opening its first store in Nashville with plans for dozens more, despite the challenging home decor market and past bankruptcy issues.
Bed Bath & Beyond is making a comeback with new physical stores under the name Bed Bath & Beyond Home, after closing all locations in 2023 due to bankruptcy. The first new store opened in Nashville, Tenn., with plans to convert about 75 Kirkland's stores into Bed Bath & Beyond Home locations by 2026. The brand is also reviving its iconic coupons as part of its nostalgic marketing strategy.
Empty Bed Bath & Beyond stores are being quickly filled by various retailers and companies seeking to expand, including Burlington, Michaels, Barnes & Noble, Ollie's Bargain Outlet, Macy's, HomeGoods, and others. Some locations are being transformed into indoor pickleball courts, trampoline parks, and bowling alleys. The scarcity of new retail space, combined with the rise of online shopping, has made former Bed Bath & Beyond stores highly coveted real estate. Retail vacancy rates are at historic lows, and landlords are dividing the spaces into smaller sizes to accommodate multiple tenants.
Empty Bed Bath & Beyond stores left behind by the chain's bankruptcy are in high demand as retailers and other companies seek to expand. Burlington, Michaels, Barnes & Noble, Ollie's Bargain Outlet, Macy's, HomeGoods, and others have taken over former Bed Bath & Beyond spaces, while indoor pickleball courts, trampoline parks, and bowling alleys have also filled the vacancies. The lack of new big box retail spaces, combined with the rise of online shopping, has led to historically low retail vacancy rates. Landlords are dividing the spaces into smaller sizes and renting them out at up to 50% less than what Bed Bath & Beyond was paying.
Empty Bed Bath & Beyond stores are in high demand as retailers and other companies seek to expand. Burlington, Michaels, Barnes & Noble, Ollie's Bargain Outlet, Macy's, HomeGoods, and others have taken over former Bed Bath & Beyond spaces, while indoor pickleball courts, trampoline parks, and bowling alleys have also filled the vacancies. The lack of new retail space and the rise of online shopping have contributed to low retail vacancy rates. Landlords are dividing the spaces into smaller sizes and leasing them at rents up to 50% lower than what Bed Bath & Beyond was paying.
Investment firm JAT Capital, which holds a 9.6% stake in Bed Bath & Beyond, has sent a scathing letter to the company's board, accusing them of poor behavior and refusing to answer shareholder questions. The firm criticized the board for canceling investor conferences and misrepresenting the ouster of former CEO Jonathan Johnson. JAT called for greater transparency and urged the board to explain their decisions. Additionally, JAT has called for Marcus Lemonis, CEO of Camping World and a member of the Overstock board, to take over management of Bed Bath & Beyond.
Bed Bath & Beyond's CEO, Jonathan Johnson, has abruptly stepped down from his position as the company transitions from Overstock.com and undergoes a corporate name change to Beyond Inc. David Nielsen, the company's president, has taken over as interim CEO while the board searches for a permanent candidate. Johnson's departure, described as a mutual agreement, comes as a surprise, as the company had previously indicated he would be available for meetings on the same day as the corporate name change. Johnson had been with the company for over 20 years and became CEO after the disclosure of a relationship between the founder and a Russian spy.
Bed Bath & Beyond has announced that its shares are canceled and have no value as the company's bankruptcy plan takes effect. The home goods retailer, which faced strategic missteps, cash burn, and the impact of the COVID-19 pandemic, had seen its stock surge last year due to attention from the Wall Street Bets crowd. Despite efforts to raise funds and stave off bankruptcy, the company filed for Chapter 11 protection in April and was delisted from the Nasdaq exchange. With the liquidation process underway, the stock closed at just under 7.9 cents, a far cry from its heyday when it traded under the ticker BBBY. Overstock.com completed its rebrand of Bed Bath & Beyond in September after acquiring its assets.
The Securities and Exchange Commission is reportedly investigating GameStop Chairman Ryan Cohen over his sale of a significant stake in Bed Bath & Beyond shares. The SEC is seeking information from Cohen regarding the trades and his communications with directors and officers at Bed Bath & Beyond. Cohen, who triggered the meme stock craze after taking control of GameStop, disclosed a large stake in Bed Bath & Beyond in March 2022 and sold it abruptly in August, making a $60 million profit. Bed Bath & Beyond stock soared on Cohen's bullish tweets but plummeted after his sale, erasing the gains.
The U.S. Securities and Exchange Commission (SEC) is investigating the trading activities of Ryan Cohen, the activist investor and co-founder of Chewy Inc., in relation to Bed Bath & Beyond. The probe focuses on potential violations of insider trading regulations.