Company Snapshot: Bed Bath & Beyond Inc.
Bed Bath & Beyond’s New Formatting
650 Liberty Avenue
Union, New Jersey 07083
Total Annual Sales
Warren Eisenberg- Co-Chairman
Leonard Feinstein- Co-Chairman
Steven H. Temares- Chief Executive Officer
Recent quarterly financial reports have proved to be a bit concerning for this venerable retail leader. The somewhat unique corporate structure, based on a solid foundation of co-chairmen, promotes a solid family-type atmosphere for problem-solving, even outside the big box, when necessary.
Thus, recent corporate announcements have indicated that rather than seeking an aggressive expansion of store counts, the company has decided to go back to the drawing board and revise some store prototypes to be more attractive to and functional for customers.
Perhaps the most interesting of these ideas can be seen through the company’s most recent store openings in New York City. The retailer recently opened a new small format (5,000 sq. ft.) Cost Plus World Market in Manhattan, near an existing Bed Bath & Beyond store. On the other side of the format-size chart, the company is debuting a 100,000 sq. ft. location in Brooklyn next year. Here the company plans to combine four formats (Bed Bath & Beyond, buybuy Baby, Cost Plus World Market, Harmon Face Values) under one roof. This is a strong indication of how the retailer is focusing more on dynamic, new formats and remodelings than massive numbers of traditional store openings.