Was it Covid that caused the death of BBB or do we blame SG or MT or ST.
SG was just the clean up man. MT and his clowns sucked the company dry and they are laughing all the way to the offshore bank. ST was too busy kissing the shareholders a** to see how behind they were in Omni business.
Like all great companies in the past, their time was up.
They went out fighting but lost the loyalty of their customers.
Also they did not do right by their employees by firing them before a law in NJ gave the employees severance pay. I’m very sad to see them go but karma is a b*tch and all those people who have done wrong will get theirs in the end. The saddest part is that someone took their own life because of BBB.
Anyone effected by this mass layoff please remember that there is something better out there for you. Keep in touch with your colleagues but don’t grieve BBB think of it as a life lesson.
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- Share buybacks - billions of dollar blown on air, so to speak.
- Totally missed the boat with online retailing, allowing competitors the jump.
- Shift to private label was to big and too fast. The Blunder from Down Under did great with that at Target, but he had years to do it, and the BB&B customer was a totally different animal anyway. So essentially, he tried to turn BB&B into Target Lite, driving away the BB&B base, without giving Target customers any reason to come here.
All COVID did was shift the trajectory BB&B was already on into warp speed.
Indeed, unemployment is at near historic lows right now. If it goes way up, I would blame the default the GOP wants to use to embarrass Biden. As usual, the scheming is obvious as is your repetitive posts about "ain't seen nothin' yet".
You would love to see a default, would you not?
I would ask you if inflation is the reason, why are Target and Walmart doing so well? And indeed who helped expand this deficit by providing their rich donors with lower taxes?
Ditto it was fine to approve spending hikes when Ru-p was in office, wasn't it?
Wallys prices are skyrocketing and only NOW have they started to get the idea that their greed is excessive as people see this as a cash grab by them. They wanted to see how far they could go with this.
Prices at Bloodbath always were inflated. Sounds like a GOP talking point to me from a Magat. Very naive.
How about inflation? Bed Bath and Beyond was a great shopping experience. Unfortunately its product/merchandise was "nice to have"..... not "got to have". High rents/mortgages, utility bills, medical insurance, groceries etc. also took and toll. We ain't seen nothing yet. The next "shoe to drop" will be unemployment.
- Supply chain modernization - should have happened even if they didn’t take online serious. BOPIS instead of ROPIS
- Nepotism - Never should have bought CostPlus, BuyBuyBaby, Christmas Tree, etc
- Stock buy back - ruined the company
The issue wasn’t never at the store levels or corporate workers. The C Suite ruined the company.
Oh, Lord, if you think it was COVID, consider that landlords were suing BBBY to get out of their spaces after only a month or two of the shutdowns. You were not here 8 years ago. If anything, it was the share buybacks that did not allow us to get modern registers until about 2018 or so. But the whole infrastructure sucked. You could write a book about this place and I hope someone does. Cramer is right- this was terribly run by ALL in terms of lack of leadership.
All of the above. Pigs, all of them.