There are plenty of people who love Bed Bath & Beyond — but it might never recover after sinking this low. Its stock just hit a 10-year-low — down 76% since 2015, as Amazon stomps all over it in the home goods market. Profit is sinking, it’s missing earnings marks and the mega retailers like Walmart and Amazon are slowly killing the beloved store and strip mall staple. But is it just competition? People like GlobalData Retail’s Niel Saunders say you can’t just blame the Internet, stating, “Too many of Bed Bath & Beyond’s stores — especially older ones — are a mess. Profit is also affected by Bed Bath & Beyond’s discounting and its rather slapdash approach to coupons and vouchers. As much as we recognize this has played an important historical role in the company’s success, we also believe that its dependence upon it is now a symptom of a rather poor retail strategy and questionable execution.” Bed Bath & Beyond has been around since 1971 and now operates over 1,500 stores across the U.S. Time will tell what’s next for the chain as it and many others face increasingly tough competition. NowThis reached out for a comment, but has yet to hear back.
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