Bad investments, low inventory and strategic missteps have left the housewares chain with few paths for survival.
as Bed Bath & Beyond’s CEO in 2019, moved to revamp the retailer’s private label home brand — trying to replicate the success he had as head of merchandising at Target. He shifted its focus and resources, but the investmentHe made other ill-advised decisions before being replaced by Gove last June, Cohen said, including“Whether he did it because he didn’t know what he was doing or he was pushed for that, that was a terrible, terrible mistake,” Cohen said.
— it failed to capitalize on the momentum, Saunders said. Then, as the economic climate shifted, stubbornly high inflation cut into Americans’ discretionary purchases. This took a toll on most retailers, but “Bed Bath & Beyond tumbled in a way that no other retailer had seen,” Saunders added. “My guess is there are vultures out there considering or who have been considering swooping in and basically taking control of the company through its debt, through its payables and other debt,” Cohen said.On Friday, a report surfaced that the company is in talks with Sycamore Partners, a private-equity firm, to sell its Buy Buy Baby subsidiary and other assets. Aarticle, citing unnamed people close to the matter, said deals with other parties also are in play.
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