Its own private-label efforts (who can even remember Wild Sage?), made in an attempt to imitate Target’s success, flopped. (She also offered an unsolicited tip for cheaper towels: “Lot Less.”) But in recent years, the store has struggled to adapt as people turned to online shopping and discount chains like the Marshalls in the same building. The store had its regular customer base: Caroline Goldhush, a nearby resident who has been going to the Chelsea store since it first opened, told me how the area would be mobbed by NYU kids who were shuttled in during move-in month. The big-box stores brought a piece of the suburbs to the city, and Bed Bath & Beyond was the cavernous linchpin, growing to encompass two floors and 92,000 square feet of space. “The neighborhood is now a destination for New Yorkers in search of shower curtains and discount clothing,” the New York Times wrote a few years later as it mourned Barney’s closure in the area. The availability of spaces with high ceilings and spaced-out columns was a draw: After the company occupied a portion of what was once the Siegel-Cooper department store, Filene’s Basement and TJ Maxx also moved into the building. “Sixth Avenue was dead as a doornail before, but Bed Bath & Beyond has really opened it up,” a part-owner of several Fifth Avenue buildings told the New York Times in 1993. When Bed Bath & Beyond planted itself in Chelsea in 1992, it marked the beginning of a new retail era for the neighborhood - once known as “Ladies Mile” for the rich women who frequented the strip between 17th and 23rd - but had been languishing for decades. Another woman I chat with, after I tell her to have fun shopping, replies, “It’s not really fun because they tricked everyone.” A shopper named Renee, who has come all the way from Brooklyn in search of a deal on an air fryer, looks forlornly at her cart, empty except for a single oven liner: “This is very disappointing.” They had come to pick the bones of a once-great superstore they arrived instead to find their coupons were no longer being honored and the Soda Streams were still $129.99. It’s crazy!” a man in a blue sweater yells into his phone near the dishware. on Wednesday, day one of Bed Bath & Beyond’s multiweek bankruptcy sale, there are at least 100 people at the Sixth Avenue flagship and betrayal is in the air. Click here to see more from the Yahoo Finance series "Retail Evolution: The New Era.By 10 a.m. who over-expand are going to have a harder time with a turnaround." Cantalupo details the positive trajectory for Academy Sports (ASO) carrying over from pandemic spending trends, while highlighting how brands like Big Lots (BIG) and Michaels are in the most need for a turnaround. "Ones who are not engaging in aggressive share repurchases, the ones who put their money in the bank and reinvest it back into the business, those retailers that go through leveraged buyout. Ahead of retail earnings this week, which retailers managed a stock turnaround and which retailers are in the most need of a turnaround? "It's those retailers that are careful with their money in the years leading up to whatever downturn are the ones that have a better chance of turning things around," Pulse Ratings CEO Dennis Cantalupo tells Yahoo Finance Live. Yahoo Finance Video Retail companies most in need of a turnaroundĬhain stores Bed Bath & Beyond (BBBYQ) and Party City (PRTYQ) have been the latest casualties in the retail landscape to file for bankruptcy or undergo consolidation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |