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Bed Bath and Beyond files for bankruptcy

nytimes.com

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Re: Bed Bath and Beyond files for bankruptcy

#51

Post by Finnucane »

dragontamer wrote: post #37
mosdl wrote: post #36

Earlier quoted context omitted.

Agreed, you basically now only have discounters who sell in store small appliances/kitchen supplies. It must not be profitable enough since there are really no other stores in that market other then BBB.

They call stores like Bed Bath and Beyond a "category killer" for a reason. If a BBBY hits your mall, there's no point selling appliance / kitchen supplies there. You simply can't compete.

If your store is clean, reasonably well stocked, and has minimally competent sales staff, you might be preferable to a BBBy.

Re: Bed Bath and Beyond files for bankruptcy

#52

Post by neurobama »

humanlion87 wrote: post #8

I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…

The whole stock market in 2023 makes no sense to me, not just Bed Bath and Beyond. So many companies no longer pay dividends. So many classes of stock are now non-voting shares. Common stock shareholders usually get nothing if a company goes bankrupt and liquidates.

So if I don't get dividends, can't vote, and am not entitled to a share of the company's assets, what is the actual value in owning stock? Do I just wait for the share price to go up, sell at the peak, and pass my shares on to the greater fool? That's starting to smell a lot like the worst sort of crypto trading.

Re: Bed Bath and Beyond files for bankruptcy

#53

Post by dragontamer »

Finnucane wrote: post #51
dragontamer wrote: post #37

Earlier quoted context omitted.

They call stores like Bed Bath and Beyond a "category killer" for a reason. If a BBBY hits your mall, there's no point selling appliance / kitchen supplies there. You simply can't compete.

If your store is clean, reasonably well stocked, and has minimally competent sales staff, you might be preferable to a BBBy.

Today, sure.

But I'm talking about even in October 2022, just a few months ago. No one was going to open a bedding store when BBBY was within walking distance.

Re: Bed Bath and Beyond files for bankruptcy

#54

Post by HDThoreaun »

neurobama wrote: post #52
humanlion87 wrote: post #8

I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…

The whole stock market in 2023 makes no sense to me, not just Bed Bath and Beyond. So many companies no longer pay dividends. So many classes of stock are now non-voting shares. Common stock shareholders usually get nothing if a company goes bankrupt and liquidates. So if I don't get dividends, can't vote, and am not entitled to a share of the company's assets, what is the actual value in owning stock? Do I just wait…

Companies that don't pay dividends generally do buybacks. Almost all public companies are profitable and do either dividends or buybacks.

Re: Bed Bath and Beyond files for bankruptcy

#55

Post by goostavos »

Animats wrote: post #45
bearjaws wrote: post #31

This is a huge loss IMO, buying kitchen supplies and bedding on Amazon is complete shit. Target isn't much better due to lack of variety and types of bedding. I've bought the same bed sheets for 5+ years, a few months ago I bought new ones since some bleach got spilt on one set, it comes in and I could tell immediately the quality was far worse. One wash later, its ripping & fraying. Thankfully I could return them. S…

I want to buy a mattress. Mattress review sites are all phony. Amazon is all phony reviews. Mattress FIRM is hugely overpriced. Bed, Bath, and Beyond's brands were just names they'd acquired. That entire industry has managed to shoot itself in the foot. Probably better to order from an actual manufacturer on Alibaba.

Also, FYI, with mattress firm, your warranty is null and void if you ever spill anything on your bed. I bought a mattress from them and within a year, in the literal use of the term, came apart at the seams. One night I woke up and my elbow was... in the bed rubbing against a spring.

I assumed such a structural failing would be under warranty, but they rejected it because of a roughly 2" stain on the mattress. Apparently, that stain was structural. I'm still salty about it.

Re: Bed Bath and Beyond files for bankruptcy

#56

Post by dna_polymerase »

humanlion87 wrote: post #8

I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…

Another relevant piece by Matt Levine is about Hertz, who were in a similar situation in 2020 iirc: https://www.bloomberg.com/news/newsletters/2021-05-12/money-...

Re: Bed Bath and Beyond files for bankruptcy

#57

Post by cjohnson318 »

bearjaws wrote: post #31

This is a huge loss IMO, buying kitchen supplies and bedding on Amazon is complete shit. Target isn't much better due to lack of variety and types of bedding. I've bought the same bed sheets for 5+ years, a few months ago I bought new ones since some bleach got spilt on one set, it comes in and I could tell immediately the quality was far worse. One wash later, its ripping & fraying. Thankfully I could return them. S…

Totally agree. Online shopping is only going to get worse: more expensive, less quality, harder to return. On the other hand, brick and mortar places are going to have less variety, and lower quality. You'll spend more time driving all over town to return things or driving all over town to find simple things in stores. Fifteen years ago Target had some pretty solid clothing options, but now it's basically only good for t-shirts and underwear.

I just want to go to a store that has what I need, at the right level of quality, with enough clerks working at any given time. I'll pay extra for that.

Re: Bed Bath and Beyond files for bankruptcy

#58

Post by pseg134 »

Animats wrote: post #45
bearjaws wrote: post #31

This is a huge loss IMO, buying kitchen supplies and bedding on Amazon is complete shit. Target isn't much better due to lack of variety and types of bedding. I've bought the same bed sheets for 5+ years, a few months ago I bought new ones since some bleach got spilt on one set, it comes in and I could tell immediately the quality was far worse. One wash later, its ripping & fraying. Thankfully I could return them. S…

I want to buy a mattress. Mattress review sites are all phony. Amazon is all phony reviews. Mattress FIRM is hugely overpriced. Bed, Bath, and Beyond's brands were just names they'd acquired. That entire industry has managed to shoot itself in the foot. Probably better to order from an actual manufacturer on Alibaba.

The only place to get a new mattress these days and not get ripped off is Costco

Re: Bed Bath and Beyond files for bankruptcy

#59

Post by wwweston »

vkou wrote: post #30
fullshark wrote: post #21

Earlier quoted context omitted.

What was the premise behind buying a stock for a company headed for bankruptcy?

Through a combination of divination by star signs and chicken entrails, reddit determined that the bankruptcy is fake, the business is actually amazing, and the only reason everyone thinks the company is doomed is because it is being shorted by bad people. If they just buy and 'hodl', the shooters will get squeezed, and all the holders will make infinity dollars. After buying mountains of stock, they've come up with…

> the only reason everyone thinks the company is doomed is because it is being shorted by bad people. > If they just buy and 'hodl', the shooters will get squeezed, and all the holders will make infinity dollars.

If there isn't already social sciences literature on The Unreasonable Effectiveness of Enemy Narratives, there should be, and I'd like to read highlights that exist.

Re: Bed Bath and Beyond files for bankruptcy

#60

Post by cjohnson318 »

goostavos wrote: post #55
Animats wrote: post #45

Earlier quoted context omitted.

I want to buy a mattress. Mattress review sites are all phony. Amazon is all phony reviews. Mattress FIRM is hugely overpriced. Bed, Bath, and Beyond's brands were just names they'd acquired. That entire industry has managed to shoot itself in the foot. Probably better to order from an actual manufacturer on Alibaba.

Also, FYI, with mattress firm, your warranty is null and void if you ever spill anything on your bed. I bought a mattress from them and within a year, in the literal use of the term, came apart at the seams. One night I woke up and my elbow was... in the bed rubbing against a spring. I assumed such a structural failing would be under warranty, but they rejected it because of a roughly 2" stain on the mattress. Appare…

My bed developed a huge sink hole within three months. I was able to take it back, but c'mon. I'm average weight, and I bought the mattress brand new. We paid an arm and a leg later for a Sleep Number and it's been totally fine for years and years.
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