Bed Bath & Beyond - statistics & facts

In the vast retail landscape of the United States dominated by mega corporations like Walmart, Home Depot and Amazon, Bed Bath & Beyond is a minor player that has seen better days. The U.S.-based home decor and domestic merchandise retailer’s net sales and profit declined sharply, resulting in a net loss of 550 million U.S. dollars in the fiscal year 2021, making this the fourth consecutive year the retailer reported negative income. More recently, the company published dismal quarterly sales, a 33 percent decrease on the previous year, diminishing inventory, and an unfavorable outlook. Only a few days after the company’s quarterly results were out, Bed Bath & Beyond received a default notice from JPMorgan. Currently, total liabilities of Bed Bath & Beyond stand at roughly five billion U.S. dollars against total assets of 5.1 billion U.S. dollars.

Bed Bath & Beyond’s troubled business years

Bed Bath & Beyond made it to the headlines frequently for a home decor retailer. The public company’s stock was picked up by retail investors during the great meme stock rally of 2021 along with the likes of GameStop. The daily share price of Bed Bath & Beyond stock (ticker BBBY) saw record values during that month, before stabilizing in the following months, and then finally plunging to single digit figures for most of 2022 and beyond. Yet Bed Bath & Beyond’s business troubles ran deeper than its market performance. The company addressed chronic issues such as falling sales revenue, reduced visitor traffic to stores, and narrow product offerings, and introduced a number of transformation plans and strategy changes to combat them. Among these were high profile merchant deals with Kroger and DoorDash in a bid to expand its e-commerce capabilities. Major leadership changes also took place, particularly in 2022. Yet none of these bold moves improved the status quo. On January 5, 2023, the company warned of its liquidity shortfall, and the possibility of seeking bankruptcy relief in a business update.

What is in store for Bed Bath & Beyond in the future?

Several measures and turnaround plans taken by Bed Bath & Beyond executives have evidently failed and now an air of gloomy anticipation is hanging over the retailer. In January 2023, the retailer shared that it was planning the closure of its 150 retail locations across the United States by February 26, 2023, the end of its fiscal year 2022. So far, 126 of these planned closures have been officially announced. The retailer’s retail presence has been shrinking since 2020, with the number of stores dropping below 1,000 for the first time in 2022.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Tugba Sabanoglu, Apr 4, 2024

Key insights

Annual home furnishings store sales in the U.S.
141.3bn USD
Consumer spending on furniture and bedding in he U.S.
119.8bn USD
Bed Bath & Beyond market share in the homeware and home furnishings market in the U.S.
6.11%
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