Now, the retailer is offering “deep discounts” on its products as it winds down operations. The company gave customers until Tuesday to use its ubiquitous coupons. The offer lasts until May 31 and is valid in store, according to its website.Įarlier this week, Bed Bath & Beyond filed for bankruptcy. Similarly, the Container Store said Wednesday it is offering a 20% discount on any single item to customers “who bring a competitor’s blue coupon to any store location,” with the offer ending May 31.īoscov’s, a department store with 50 locations, is also exchanging mailed Bed Bath & Beyond coupons for $10 off purchases of at least $50. “At Big Lots, our mission is to help people live big and save lots, which means we’re always thinking of ways to step up and deliver even more value to consumers,” said CEO Bruce Thorn in a press release Customers that bring one of the iconic blue-and-whites into one of its 1,425 stores will receive 20% off a purchase of $50 or more. as some of the smaller retailers that could benefit.Bed Bath & Beyond’s competitors are coming to the rescue of customers looking to use expired coupons issued by the failed retailer.īig Lots said Thursday that it’s “assisting shoppers nationwide” by accepting expired Bed Bath & Beyond coupons until May 7. as the companies benefitting from the wind-down of Bed Bath & Beyond. to have an opportunity to gain some key real estate as it grows its unit count and looks for key anchor locations in strip malls.īank of America analyst Curtis Nagle highlighted large retailers like Walmart Inc., Inc. The analyst also sees an opportunity for retailer Five Below Inc. as retailers that could benefit from the downfall of Bed Bath & Beyond. Oppenheimer analyst Brian Nagel pointed to Williams-Sonoma Inc., Lovesac Co., and Wayfair Inc. Episodes of “Get Organized With The Home Edit,” based on an extreme organization book, saw celebrities have their homes organized by experts using products from The Container Store. The Container Store benefited from a marketing push in 2020 related to a show on streaming giant Netflix Inc that featured its products. The drop in The Container Store’s share price comes as peer Tupperware Brands Corporation, once an American staple, has seen shares fall over 93% in the last year. The marketing strategy could be important for The Container Store and Big Lots as they fight to gain prior customers of Bed Bath & Beyond looking for new places to shop.īoth The Container Store and Big Lots have also seen their shares hit 52-week lows as investors worry about which specialty retailers could be next to face liquidity concerns after Bed Bath & Beyond and others have struggled.
The Big Lots offer expired May 7, but allowed customers the chance to get 20% off their entire purchase of $50 or more. “For anyone who has missed their last opportunity to redeem one of these coupons, Big Lots is opening our doors to help you save on your entire purchase.” “At Big Lots, our mission is to help people live big and save lots, which means we’re always thinking of ways to step up and deliver even more value to consumers,” Big Lots CEO Bruce Thorn said. The company has locations of Bed Bath & Beyond and BuyBuy Baby stores open during its wind-down process, but will no longer allow customers the ability to use its famous 20% off coupons, according to Retail Dive.īed Bath & Beyond Chief Financial Officer Holly Etlin credited the success of the coupon in court documents recently, saying they were “one of the greatest retail coupons of all time.” Etlin said the coupons helped the company’s “financial success” and a decision to lower the prioritization of the coupons may have led to struggling sales. What Happened: Bed Bath & Beyond filed for bankruptcy protection in late April as the company has seen its shares fall over 90% in the last year and the company struggled with liquidity.
Two retailers are accepting the 20% off coupons in a potential marketing move that could help their own struggling stock prices. With the retailer filing for bankruptcy and ending the use of the coupon, customers could be searching for new places to shop. ( Benzinga) - Customers of Bed Bath & Beyond have been accustomed to using the popular 20% off any single item coupons the retailer has mailed out for years.
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