A retailer is hoping that the misfortune of Bed Bath & Beyond may help alleviate its own declining sales.
Much has been made of the retail apocalypse sweeping the nation.
Retailers are filing for bankruptcy and closing stores and Florida has been one of the states most impacted.
One retail business that has been attracting a lot of headlines is Bed Bath & Beyond which is ceasing operations and closing stores.
But in a twist, the failure of Bed Bath & Beyond may help another retailer survive.
Big Lots. Big Problems
Earlier this year Big Lots, a discount furniture and home decor retail chain, announced it was closing several stores in the United States.
This week they released their financial results which were disappointing. Big Lots posted a loss of $206.1 million causing its shares to fall to a three-decade low. However, ironically one thing that is working for Big Lots is accepting expired coupons from Bed Bath & Beyond.
"We think there's a big opportunity for us to bring in some of the dislocated customers from the Bed Bath & Beyond bankruptcy. We've got a good store footprint overlap with their stores within 10 miles...Our recent campaign to honor their 20% discount was a great success in terms of attracting 90 million TV and radio impressions, and that resulted in good redemption rates that allowed us to sign up more loyalty customers from that. We expect that to continue. Right now, they're in the process of liquidating their stores and their products." Bruce Thorn, Big Lots president, and CEO.
Big Lots isn't the only retailer accepting expired Bed Bath & Beyond coupons.
The Container Store, JoAnn, and Sur La Table have also been accepting them.
If you have an expired coupon you can use it at one of the 110 Big Lots locations located in Florida. You can find your nearest location here.
Your thoughts
Are you glad other retailers in Florida are accepting expired Bed Bath & Beyond coupons? Do you still have any unused coupons? Are you afraid the retail apocalypse will lead to a recession? Should President Biden be doing more to stimulate the economy?
Please leave your thoughts on the issue in the comment section below and share this article on social media and with others so more people can join the discussion and give their views.
Comments / 3