Bed Bath & Beyond Returns as National Retailer

By Douglas A. McIntyre Published Oct 17, 6:40AM EDT

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Bed Bath & Beyond Returns as National Retailer — © Vitalii Petrushenko / iStock via Getty Images

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Container Store Group Inc. (NYSE: TCS) plans to sell Bed Bath & Beyond branded products.
The retailer struggles with slumping sales and hasn’t posted a profit in three years.
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Houseware and furniture retailer Bed Bath & Beyond went bankrupt in April 2023. In July of the same year, its inventory was liquidated. At its peak, it had over 1,100 locations. It is making a comeback as part of Container Store Group Inc. (NYSE: TCS). Beyond Inc., which bought Bed Bath & Beyond’s few assets, will invest $40 million in Container Store simultaneously.

The purchaser has its problems. According to CNN, “In May, the Container Store began a strategic review of its business as it struggles with slumping sales and hasn’t posted a profit in three years.” Its stock is down 64% this year, while the S&P 500 is 22% higher. The Container Store has 102 locations, each selling Bed Bath & Beyond branded products. Perhaps the presence of what was a popular brand will help overall sales.

“Through the licensing of the Bed Bath & Beyond brand, the Container Store will enhance their store format and current general merchandise offering by incorporating the most popular Bed Bath & Beyond products to drive improved financial performance while providing customers a more comprehensive product offering for their home and organizational needs,” said Marcus Lemonis, Beyond’s executive chairperson, about the deal.

The Container Store’s same-store sales fell 13% in the most recently reported quarter. Revenue dropped 12% to $182 million, and the company lost $15 million. It is hard to say that the Bed Bath & Beyond purchase will help.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.