Bed Bath & Beyond is on the brink: from meme stock to store closures to the shocking news of its financial chief's death. Now a soon-to-be-released financial report may spell out its fate. Here's how the retail behemoth got here.
As recently as 2018, Bed Bath & Beyond had over 1,500 stores. It had hoovered up rivals, BuyBuy Baby and World Market. Even during the Great Recession, when many retailers folded, Bed Bath seemed to only grow.
"I would go into one meeting and it would be, 'We need to be ... the destination for home, more upscale, home decor, more furniture,'"said Laskin, who left Bed Bath in 2017 and is now with consultancy Prophet. This strategy had worked like a charm at Target, perfected over years. Bed Bath & Beyond rushed to replicate that success in months — right as the pandemic began.
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