While Bed Bath & Beyond same-store sales declined by 50 basis points versus the same quarter a year ago, adding omni-channel trappings to Bed Bath & Beyond stores are helping boost sales. CEO Steven Tamares, has been evolving Bed Bath & Beyond stores by integrating physical and digital capabilities to create an experiential shopping culture, showcase products, services, and offer solutions.
Bed Bath & Beyond is already introducing a digital scanner tool at the Hyannis, Mass., location, which shows customer reviews, products images, and pricing information. Customers will be able to experience product demonstrations, “how to” sessions, food sampling and cooking classes at Bed Bath & Beyond’s boldest project in the fall at the Liberty View industrial park in Brooklyn, N.Y. This project will have the four main banners under one roof: Bed Bath & Beyond, Buy Buy Baby, Cost Plus World Market, and Harmon Face Values.
The company opened its first “And That,” bargain store last month. The store was designed to have a local appeal. The concept of the store is to have an ever-changing mix of merchandise and opportunistic purchases at a great value such as home décor, seasonal food and beverages, entertaining essentials and gifts.
The First quarter closed around $645,000 million in cash on hand and is projecting with the changes implemented that the same-store sales will grow by 1 percent this year. They are planning to open 30 stores throughout all its banners.
“Bed Bath & Beyond Goes Further Beyond, with New Concept, Technologies.” Shopping Centers Today Week, Retail Real Estate News. ICSC. N.p. 23 June 2016. Web. 21 July 2016. http://www.icsc.org/sct/newsletters/article/bed-bath-beyond-adds-new-concept-technologies-to-grow