SAN DIEGO — Bed Bath & Beyond plans to close 150 more stores across the country; just one week after the company announced they were closing 90 stores.
Among the shuttered stores, were three of the six left in San Diego, disappointing news to some local shoppers.
"The fond memories of Bed Bath & Beyond; getting all my dorm products. It's the end of an era!" said San Diego mother shopping, Katherine Vidali.
San Diego State University’s Professor of Marketing, Miro Copic, shares what may have gone wrong.
"Stores that are developed into their own category have struggled in the face of Amazon, Walmart, and Target. They are mostly stand-alone or in B or C-level malls where traffic has declined," says Copic.
Added the marketing professor, "They were supposed to make creditor payments and they defaulted on them. They are on the verge of declaring bankruptcy. This week, they were given a lifeline by a number of investors for debt security."
CNN reports the company was hit hard during the pandemic. Sales sank by 17 percent in 2020 and 15 percent in 2021.
Online shopping is increasing, but Copic says brick-and-mortar stores can still survive if they improve the shopping experience both in-person and online.
"If their marketing doesn’t bring shoppers in the store, they need to make them shop online and that’s where Bed Bath & Beyond has failed," said Copic.
Many San Diego shoppers have received numerous Bed Bath & Beyond coupons in the mail.
"Constantly! I think almost every month we get some type of coupon in the mail. Although I do not need something every month, it is nice when it comes around to using it," said Vidali.
The Bed Bath & Beyond store in Mission Valley may be there to stay, yet bankruptcy still looms overhead; so they need to act quickly.
"I was surprised at how empty the shelves were. They told me they are planning on keeping this store, surprisingly enough, so that is great news to the community," said Vidali.
"I wish they would stay, but things evolve. The beat goes on," said another Bed Bath & Beyond shopper in San Diego, Kenneth Hampton.
"Stay around Bed Bath & Beyond! San Diego loves you," said Vidali.