Is CNY About to Say Bye-Bye to Bed Bath & Beyond?
Bed Bath & Beyond has been a longtime staple store for Consumer Square on Commercial Drive in New Hartford, and there are three locations in the Syracuse area. But, the chain has been struggling, rumors suggest big problems are looming, and the business forecast is filled with dark clouds.
Loop Capital Market's research analyst Anthony Chukumba told CNBC: "The company could may be headed for a quicker-than-expected demise if the company doesn't shake things up. If they remain on their current trajectory, this could be Sears, just 5 to 10 years earlier."
Bed Bath & Beyond's stock price has fallen 23 percent in the last month and has dropped 74 percent in the last five years. Stores in some locations are already closing.
The chain has suffered a lot of its sales attrition due to the strength of Amazon, and some analysts urge a strategy of beefing up its online presence and performance.
Certain stores have been criticized for an "uninspired" design, with inventory that's a cluttered "mess."
A couple of factors in Bed Bath & Beyond's favor: a great track record for friendly consumer service, with a very lenient return policy, and the recent addition of free shipping on certain orders.
Would you miss Bed Bath & Beyond?