I probably shouldn’t care about it, however, I can’t believe all the bad business moves they pulled. Correct me if I’m wrong, but BBB seemed to have lost its compass when it came to online business. They didn't know what they were doing at all. Why doesn’t that surprise me? I would love to hear your opinion, could the online business have saved us if they had only tried a little harder?
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Nobody thought that Mark was retiring at BB&B. But his message doesn't match what he's doing. He's says, I'm going to fix it and make BB&B better to compete with the like's of Target and Kohls. But that's not his goal. Plain and simple he's a corporate raider. He's there to sell BB&B for parts and when there's nothing else to sell he'll move on.
How else is he going to pay for his 2 million dollar 3 bedroom and 3 bath apartment at 104 Charlton St. APT 6E in NYC.
Bloodbath VERY late into the online sales market. This was known back in 2016.
"Mark is playing it close to the vest but he slips up here and there and reveals that he's not here to help BB&B he's here to clean it up - sell it off take the money and run."
That was his entire purpose. You thought he was brought in to retire with BBBy.
Shareholders want a return already. Steve ran it through the ground. Mark is cleaning up to put up a now selling sign up. It's about share holders and profit. Close 200 to save 500 to make it easier to sell to Amazon or any investor with $$$. Mark's time with the company is 2-3yr max. Company has till 2023 to prove it has staying power.
It's also a shame that while they were furloughing and laying off employees at the beginning and middle of covid - they decided to spend money to rebrand, created new signage and update the interior of stores - some these stores that they are now closing. Instead of spending the money and fixing our systems like BOPIS.
They also spent money hiring all these new executives in the corporate office who are just doing/continuing what the past (fired) executives were doing. I've been in these meetings and we are just rehashing the same ideas. Nothing new here other than copy Target, Walmart, Kohls and new startup businesses.
They keep selling our businesses off - they say they are making us more focused and leaner. I agree some of our past businesses didn't make sense.
But being a part of some of these meetings you see/hear the reality. They are trying to make BB&B look better only to sell us off. Mark is playing it close to the vest but he slips up here and there and reveals that he's not here to help BB&B he's here to clean it up - sell it off take the money and run.
There is no future here. I'm one of the few people who in the last 8 years with BB&B have made it through the furloughs, layoffs and firings but I've started to look for a new job - you should too.
The big mistake they made is outsourcing customer service to a foreign country. They are horrible to speak to and they just don’t care what you tell them. They have a script to follow and repeat it over and over without giving any resolution.
If they want to push Omni they need to fix the customer service side of that.
New name Bed Bath & Beyond Recovery
Any advertising on social media definitely hurt Bbb. The negative comments on missing orders, refunds taking months and no customer service just dug the grave deeper. Loyal customers will find other places to shop where they are respected as a customer. What a shame, BBB you lost the one thing you had going for yourselves....your reputation for exceptional customer service. KUDOS to places like Kohls, Amazon, Walmart and Target who exceeded my expectations with every order I placed ... they pulled it off seamlessly.
the online business wouldnt have saved BBBY, but it would have helped them keep their doors open longer, so long as they werent complete dumb–ses when implementing it.
Unfortunately, theyre not retaining any money from these online sales, as all the costs involved in shipping merchandise to the store to send right back out, overpriced store labor just to fulfill the volume of orders, and the fact that theyre losing out tremendously in in-person sales negate any profits they get.
Not only that but factor in the fact that stores are mostly shippping out big electronic items (items that have the least amount of markup and profit margin)
And its crazy that they would rather close stores that are still profitable and continue to pile the evergrowing boom of online orders to the remaining stores. Wonder what their plan to tackle the influx of orders with less stores and minimal warehouse infastructure and no coverage will be...
Its evident BBBY is just tredding water at this point...
Our DM says the company’s never been better hahah