Bed Bath & Beyond CEO Jonathan Johnson explains why Overstock.com is being rebranded as an iconic retailer and the way it plans to navigate the present financial local weather.
Buybuy Baby is closing all of its shops a couple of yr after new house owners tried to revive the model.
The firm introduced on its web site that it’s transferring to an online-only mannequin after recognizing the necessity for a “strategic reset.”
“With this modification we now have come to the tough choice to shut our bodily shops by the top of this yr,” the corporate wrote. “We perceive that this can be disappointing information and need all of our clients to know that this was not a selection we took flippantly.”
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Buybuy Baby started providing last gross sales on nearly the whole lot within the retailer after its announcement. Gift playing cards can be accepted in-store till October thirty first. Shoppers can nonetheless use their reward playing cards on-line. The information will nonetheless be obtainable on-line, the corporate mentioned.
The firm’s customer support staff will contact clients relating to any furnishings orders.
purchase purchase Baby Store with Cart Return Shelf Featured, Cherry Hill, NJ, January 8, 2023. (Fox News)
Buybuy Baby’s try and return to bodily shops did not final lengthy. The model was a subsidiary of Bed Bath & Beyond Inc. till it filed for Chapter 11 chapter in 2023, after years of declining gross sales and failed turnaround plans.
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Subsequently, all Buybuy Baby shops have been closed as a part of the chapter liquidation.
Buybuy Baby’s mental property belongings have been offered to Dream on Me Industries, which manufactures and sells kids’s merchandise and furnishings, for $15.5 million in July 2023.
In quick order, its new father or mother firm introduced a plan to relaunch its web site and reopen 11 shops. The firm was reportedly planning a nationwide enlargement with plans to reopen 100 shops over a three-year interval, in line with ModernRetail.com.
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The information comes simply after Beyond Inc., proprietor of manufacturers together with Bed Bath & Beyond, Overstock and Zulily, mentioned it’s investing $40 million in Container Store Group to relaunch a few of Bed Bath & Beyond’s merchandise in shops.
As a part of this new partnership, the businesses will use a bit inside the Container Store’s actual property areas to showcase Bed Bath & Beyond’s kitchen, toilet and bed room assortment, which can be co-branded.
