With its first location opening in 1971, Bed Bath & Beyond has become a staple storefront in and around many shopping malls across the United States. Unfortunately, those days may be coming to an end.
In a statement to its investors released by the company on January 5, Bed Bath & Beyond admitted they were losing money quarter-over-quarter and are losing footing in the home-goods industry. While the company is currently exploring a myriad of options to straighten the ship, they advised stockholders that bankruptcy is something that is on the table.
Twitter users couldn't help but chime in on the potential demise of yet another American retailer, with comments running the gamut from honesty to sarcasm.
News of the company potentially going out of business didn't seem to come as a shock to this Twitter user:
If we’re being honest, Bed Bath & Beyond made it a LOT longer than I expected.
— tsunami 🌊 (@MmmCatMama) January 5, 2023
Subpar sales and too many affordable options to be competitive.
User RetPallyJil argues that Bed Bath & Beyond can only blame themselves for this situation as they haven't refreshed their product lines to stay up with latest trends – especially during tough economic times.
I like Bed, Bath, & Beyond, but have they stopped to consider that maybe filling their store with 150 dollar toasting forks is a risk when people can't pay for the food to cook with it?
— Scarlet Highlord RetHollyJil, the Ashbringer🔥© (@RetPallyJil) January 5, 2023
Adjust product lines to the times you live in. It's not the 90s.
This Twitter user took the opportunity to get political and suggests that despite possible bankruptcy, Bed Bath and Beyond is better off than Congressman Kevin McCarthy:
Bed Bath & Beyond is trending because they are headed towards bankruptcy. But they’re in a better position than Kevin McCarthy who is morally bankrupt.
— Elgin Charles (@ElginCharles) January 5, 2023
On the opposite side of the spectrum, user mrsmaisy theorizes that the company was doomed once they stopped selling conservative-owned MyPillow products in 2021:
Bed, Bath, & Beyond (the budget) is learning most people don't like to mix woke politics with their towels and pillows.#GetWokeGoBroke
— MrsMaisy (@mrsmaisy) January 5, 2023
Buh-bye! 👋
This tongue-in-cheek comment by JimmyVhyde pokes fun at the fact that sending out more of their ubiquitous 20% off coupons would help Bed Bath & Beyond on their balance sheet, at least in the short-term:
BREAKING: Bed Bath & Beyond just started sending out 20% more coupons https://t.co/Rp4Wv4DAFI
— Jimmy VHyde (@JimmyVhyde) January 5, 2023
Although Bed Bath & Beyond has not officially started bankruptcy proceedings yet, if the company does go out of business, there will be plenty of sales to be had – and this Twitter user is here for it:
Lowkey won’t be mad if Bed Bath & Beyond go outta business . I know the sales gon hit & I need a rug
— TheFineAuthor (@TheFineAuthor_) January 5, 2023
Some people just can't help but be excited over the prospect of the company going out of business and having a fire sale:
If Bed Bath & Beyond really goes under, the sales are finna be AMAZING. Sorry to them but I love homeware too much to pretend I'm not excited about discounts.
— Mars (@MarsinCharge) January 5, 2023
This Twitter user drops a helpful tip that many shoppers will hopefully utilize in the coming weeks and months:
If you have a Bed Bath & Beyond gift card, here's your notice to use it. I remember Linens N Things stop accepting their own gift cards towards the end of its run.
— Niki ❤⃤💫⃤ (@LoveableNiki) January 5, 2023
This particular user confused Bed Bath and Beyond for an entirely different company until she realized the error of her ways:
I got like 5 tweets into the Bed Bath & Beyond trending page about the chain ‘possibly’ closing before I realized I was thinking it was about Bath and Body Works
— Angela Gailey (@angela_gailey) January 5, 2023
This article was produced and syndicated by Wealth of Geeks.