Let's see the BBB cheerleaders put a positive spin on this. Yep, the people at the top really know what they are doing. Keep telling yourself that.
https://www.fool.com/investing/2022/01/30/bed-bath-beyonds-pandemic-plans-completely-backfir/
If you're looking for a MasterClass on the Dos and Don'ts of retail business, Bed Bath & Beyond may have some lessons to teach— with an emphasis on Don'ts.
At the onset of the pandemic, the big box home goods store made a couple of key tweaks in hopes of improving its shopping experience. Now, nearly two years later, the results are painfully clear: the decisions were beyond d-mb.
In an attempt to "declutter" its store, Bed Bath & Beyond reduced the number of products at its locations and swapped many big, national brands for newly launched private labels. But the change just ended up frustrating shoppers, who, apparently, like a big, messy store. Or, at least an organized mess as a necessary side effect of optionality.
Worse, streamlining its in-store shopping experience left the chain even more vulnerable to supply chain turbulence:
During the holiday shopping season, Bed Bath & Beyond faced a shortage of its 200 top-selling items, which cost the company $100 million in lost sales by the end of the most recent quarter, according to CEO Mark Tritton.
While competitors Target and HomeGoods stores under the TJ Maxx umbrella saw double-digit year-over-year increases in sales last Fall despite similar supply chain issues, sales at Bed Bath & Beyond fell 10% in its most recent quarterly earnings report.