"He doesn't have a coupon." "Is he all right?" "You don't think he's dangerous, do you?" Speaker 4: One time, I went to Bed Bath & Beyond, and I didn't have a coupon. Ryan Knutson: The store became such a fixture in America that jokes about it often showed up in pop culture. The coupons definitely had a cult following. You could buy name brand goods like All-Clad Cookware at very, very good prices.
Suzanne Kapner: What distinguished them was their Big Blue they called it, their coupon, where you could get 20% off a single item, and that made their pricing very competitive. Ryan Knutson: And it became especially popular for its coupon. Linens, housewares, glassware, storage things. Speaker 3: I'm going out there for the incredible Bed Bath & Beyond grand opening. Ryan Knutson: Here is one of its ads from the early '90s. Suzanne Kapner: They pretty quickly expanded and expanded the selection to have everything from cookware and kitchen gadgets, to bedding, bathroom, storage, and they became what is known as a category killer.
Coming up on the show, why Bed Bath & Beyond is in so much trouble.īed Bath & Beyond was founded in 1971, and at its height, it had a thousand locations across the country, at least one in every state, and it dominated the market for home goods. Ryan Knutson: Welcome to The Journal, our show about money, business, and power. They really need to turn things around pretty quickly. They need to get shoppers coming back and buying. Suzanne Kapner: I'm not going to sit here and say they're heading into bankruptcy, but I have seen analysts say that, that is a possibility. How much trouble could Bed Bath & Beyond be in if they don't turn it around? Ryan Knutson: Last week, its highest profile investor dumped all of his shares of the company and its stock price tanked. So, they've got some real fundamental challenges. Customers are fleeing, they're running out of money. Suzanne Kapner: The underlying business is struggling. But Suzanne says it didn't work out well, and now it's facing an existential crisis. Ryan Knutson: Bed Bath & Beyond tried to reinvent itself a few years ago to try and save itself from extinction. Suzanne Kapner: They had been really so successful until very recently, and it's just in the last couple of years that they've really gone downhill in a big way. Ryan Knutson: Our colleague, Suzanne Kapner, covers Bed Bath & Beyond, and she says that lately, the company's been struggling. It was like a treasure hunt feeling, like you never knew what you were going to find there. Suzanne Kapner: Bed Bath & Beyond was one of last of that breed of store, where you could go in and anything for the home, pretty much, you could find there.
And for a long time, it was a leader in the home goods market. Stuff for your bedroom, your bathroom, and beyond, like your kitchen. Ryan Knutson: Bed Bath & Beyond is a store that sells, well, exactly what you'd expect. This version may not be in its final form and may be updated. This transcript was prepared by a transcription service.
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