Why does closing and consolidating store locations not solve the company's issue??
I noticed from my research that Bed Bath and Beyond has changed their strategy from being more a community store operating locations in 5 mile radiuses with 200,000 to 300,000 people to capturing 10 mile radiuses with 400,000 to 500,000 people. This is especially seen in the Salt Lake City metro where they used to have 5 stores in Salt Lake County in 5 mile increments to now only have two in 10 mile increments, in Salt Lake City and Sandy. But interestingly, they have kept the Park City location open, even though that area has no where near 400,000 to 500,000 people in its market and has less people than the markets they closed in, West Jordan, Midvale, and West Valley City.
Has this been increasing the sales at Salt Lake City and Sandy, or has this cut off reasonable access to Bed Bath and Beyond in these communities??
If closing and consolidating store locations to save money doesn't save the company, what can reduce the debt and financial issues Bed Bath and Beyond and similar companies have. Similar to Kmart, how does Kmart live the Dave Ramsey lifestyle living off rice and beans not investing in their stores, closing unprofitable stores, still file for bankruptcy, and only have 3 stores operating in the United States, plus 6 in the territories, and being no where near a good financial situation. Whereas, thriving companies such as Walmart and Target spend money opening stores and remodeling existing stores, being in a good financial position. What way saves money and keeps a company profitable??