Please ensure Javascript is enabled for purposes of website accessibility
Local Retailer Bed Bath & Beyond in a 'World of Hurt,' Experts Say
News
By News
Published 3 years ago on
July 25, 2022

Share

 

Bed Bath & Beyond, the home goods retailer with stores in Fresno and Visalia, has one foot in the grave and may be at risk of being pulled six feet under, a former industry CEO has warned.

The retailer has seen its same-store sales crash 27% in the most recent quarter as shoppers pulled back on discretionary purchases. Shoppers have also continued to shun the retailer’s misguided move to scale back on its popular coupons.

“Bed Bath & Beyond is in a world of hurt because they have burned an enormous amount of available cash, their business has no forward momentum, and now as we all know they have an enormous leadership gap that they will have to fill,” Mark Cohen, Columbia University professor of retail studies and former long-time CEO of Sears Canada, said on Yahoo.

The company recently fired its well-regarded CEO, Mark Tritton, who had joined Bed Bath & Beyond in 2019 after a successful stint as Target’s chief merchandiser.

The story is so bad that Wall Street is questioning whether the company survives.

“We are looking at a situation in which this company is probably not going to be around,” Loop Capital analyst Anthony Chukumba said on Yahoo Finance Live. “It’s not going to take years. We could be talking about months at this point. We are in the end days. These results were a dumpster fire, there is no other way to put it.”

Read more from Yahoo!Finance

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Can Middle Schoolers Handle College? This San Jose School Is Finding Out

DON'T MISS

Clovis Police, ABC Cite Three for Giving Alcohol to Minors in Shoulder Tap Operation

DON'T MISS

Trump to Remove US Sanctions on Syria in Major Policy Shift

DON'T MISS

US Overdose Deaths Fell 27% Last Year, the Largest One-Year Decline Ever Seen

DON'T MISS

Debate Turns Raucous as House Panel Weighs Medicaid Cuts

DON'T MISS

California Democrats Restore Penalties in Teen Sex Trafficking Bill After Backlash

DON'T MISS

Fresno Police Activity Shuts Down Stretch of Blackstone Avenue

DON'T MISS

Tulare County Authorities Seeks Suspects in Armed Carjacking

DON'T MISS

Trump Tariffs, Rising Health Care Costs Knock CA Budget Back Into Deficit

DON'T MISS

Waymo Recalls 1,200 Self-Driving Vehicles After Minor Collisions

UP NEXT

Fresno Police Activity Shuts Down Stretch of Blackstone Avenue

UP NEXT

Valley Crime Stoppers’ Most Wanted Person of the Day: Simon Aguilera Navarro

UP NEXT

Fresno Police to Hold DUI Checkpoint Saturday

UP NEXT

Qatar Signs $200 Billion Deal to Buy Jets From Boeing During Trump Visit

UP NEXT

Investors Buy Fig Garden Village. How Much Did It Sell For?

UP NEXT

Fresno County DA Wants Teens Tried as Adults in Caleb Quick Murder

UP NEXT

Work Permits Reinstated for UC Merced International Students, Anxiety Persists

UP NEXT

Fresno Police Seek Public’s Help Identifying Shooting Suspect

UP NEXT

Global Eggs Completes Acquisition in US, Closes New Deal in Europe

UP NEXT

UnitedHealth Group CEO Steps Down as Company Lowers, Then Withdraws Financial Outlook for 2025

US Overdose Deaths Fell 27% Last Year, the Largest One-Year Decline Ever Seen

52 minutes ago

Debate Turns Raucous as House Panel Weighs Medicaid Cuts

59 minutes ago

California Democrats Restore Penalties in Teen Sex Trafficking Bill After Backlash

1 hour ago

Fresno Police Activity Shuts Down Stretch of Blackstone Avenue

1 hour ago

Tulare County Authorities Seeks Suspects in Armed Carjacking

1 hour ago

Trump Tariffs, Rising Health Care Costs Knock CA Budget Back Into Deficit

2 hours ago

Waymo Recalls 1,200 Self-Driving Vehicles After Minor Collisions

2 hours ago

How Ancient Reptile Footprints Are Rewriting the History of When Animals Evolved to Live on Land

2 hours ago

Cassie Details Her Hotel Hallway Beating by Sean ‘Diddy’ Combs’ at His Trial

2 hours ago

Pope Meets Sinner: World No. 1 Gives Tennis Fan Pope Leo XIV Racket

2 hours ago

Can Middle Schoolers Handle College? This San Jose School Is Finding Out

This story was originally published by CalMatters. Sign up for their newsletters. By 2:45 p.m. the regular school day at August Boeger Middl...

21 minutes ago

https://www.communitymedical.org/thecause?utm_source=Misfit+Digital&utm_medium=GVWire+Banner+Ads&utm_campaign=Branding+2025&utm_content=thecause
21 minutes ago

Can Middle Schoolers Handle College? This San Jose School Is Finding Out

24 minutes ago

Clovis Police, ABC Cite Three for Giving Alcohol to Minors in Shoulder Tap Operation

A girl holds a Syrian flag, as people celebrate after U.S. President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. REUTERS/Yamam Al Shaar
26 minutes ago

Trump to Remove US Sanctions on Syria in Major Policy Shift

Signs are displayed at a tent during a health event on June 26, 2021, in Charleston, W.Va. (AP File)
52 minutes ago

US Overdose Deaths Fell 27% Last Year, the Largest One-Year Decline Ever Seen

Rep. Alexandria Ocasio-Cortez/Medicaid Cuts
59 minutes ago

Debate Turns Raucous as House Panel Weighs Medicaid Cuts

1 hour ago

California Democrats Restore Penalties in Teen Sex Trafficking Bill After Backlash

Photo of a Fresno Police car
1 hour ago

Fresno Police Activity Shuts Down Stretch of Blackstone Avenue

The Tulare County Sheriff's Office is looking for suspects in a Poplar armed carjacking on Tuesday, May 13, 2025. (Tulare County SO)
1 hour ago

Tulare County Authorities Seeks Suspects in Armed Carjacking

Help continue the work that gets you the news that matters most.

Search

Send this to a friend