We went shopping at Bed Bath & Beyond and saw why the company is plotting a turnaround
Publish date: 2024-06-23
2019-07-24T17:10:03Z - Bed Bath & Beyond has been struggling. The retailer reported a 6.6% drop in same-store sales for the first quarter and subsequently laid out a plan to review its assets.
- The company announced Tuesday it would eliminate the role of chief operating officer and cut 7% of its corporate staff.
- We visited a Bed Bath & Beyond store in New York City to assess the situation for ourselves. With its disorderly and overstocked shelves, the store showed why the company is in desperate need of a turnaround.
- Visit Business Insider's homepage for more stories
Bed Bath & Beyond continues to struggle.
The home essentials company has been in trouble for some time now — its longtime CEO, Steven Temares, stepped down in May amid pressure from activist investors, and its stores have been criticized for being messy in the past.
On Tuesday Bed Bath & Beyond announced that it would reduce its corporate staff by 7% and eliminate the role of chief operating officer.
We visited a Bed Bath & Beyond store in New York City to see the source of the the trouble. The overstocked and messy store made it clear why the company is making big changes.
Here's what else we saw:
We stopped by the Bed Bath & Beyond store in Manhattan's Financial District.
A sign on the door announced the company's policy to match the prices of certain competitors, so we were expecting some good deals.
From our first steps in, the store was overwhelming. There was merchandise packed top to bottom on shelves that lined every wall.
In some places, if the shelves weren't totally packed, they were almost completely empty.
But for the most part, the full shelves seemed to be at least 15 feet tall.
Random rows of shopping carts also punctuated the walking space every now and then, which heightened the already cramped feeling of the store.
There were signs throughout the store advertising membership. For an annual fee, members get 20% off their entire purchase and free standard shipping online.
We started our shopping near these shatterproof glasses. They looked nice enough and at $2.79 each, the price was right.
We made our way to a section of what appeared to be outdoor furniture. The pieces here were unorganized and confusing to look at. They seemed to be randomly thrown together without much thought.
In a nearby lamp section, we found an open can of LaCroix.
We made our way further into the store and found a massive section of towels, which seemed to include every color of the rainbow.
As we got deeper and deeper into the store, we realized how confusing the layout was. It was easy to get lost in the piles of merchandise lining every corner.
There were some notable landmarks — like this wall of toilet seats — that helped us find our way.
But for the most part, we found ourselves lost in an overwhelming maze of home essentials.
In many places, there were wires sticking out from the ceiling, which gave the store a messy appearance.
In other places, the store was just downright disorganized.
This dusty picture frame was one of the more unappealing items on display.
The bedding section was a welcome reprieve from the mess that seemed to lurk from every corner of the store. The beds on display here were surprisingly neatly made.
The wedding and gift registry was also a breath of fresh air from the chaos of the rest of the store.
We found a massive wall of scented candles, but the price — two for over $30 — didn't impress us.
Some of the items in the store, like this cute coffee clock for close to $20, were charming.
But a lot of items seemed out of place and outdated. This section of iHome products seemed to miss the mark as far as the wants of the modern customer.
There was also a random collection of Pride t-shirts on sale that didn't impress us, but the prices weren't spectacular, and Pride month had been over for a few weeks.
We left Bed Bath & Beyond understanding why a transformation is necessary for the company to survive. The outdated merchandise and overstocked and messy store made it clear why Bed Bath & Beyond is making drastic moves at the top.
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