Earlier this year it was announced that Bed Bath & Beyond would be closing all 54 of its Canadian stores due to financial stress. 

Although the physical stores won’t be coming back any time soon, Canadians will now be able to shop Bed Bath & Beyond again, from home!

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Overstock, an online retailer of furniture, home décor, and home furnishings, has acquired Bed Bath & Beyond and re-launched its website domain bedbathandbeyond.ca. Allowing Canadians to once again shop its inventory of home décor, furniture, and more. 

“Combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a powerful synergy,” … “I’m excited for consumers to experience the new Bed Bath and an even bigger and better Beyond.” said Overstock CEO, Jonathan Johnson.

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We’ve checked out the website and it seems to be already up and running! And as of right now, the website states that all Canadian orders will ship for free!

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Bed Bath & Beyond is closing all 54 of its Canada stores, according to court filings dated February 10, 2023.

Recently, Bed Bath & Beyond failed to file its 10-Q quarterly report on time, resulting in Nasdaq notifying the brand with a non-compliance warning. This was a tell-tale sign that the retailer could be under financial stress. Not long after, its Canadian operations were announced to be going out of business. 

It is said that the COVID-19 pandemic greatly impacted Bed Bath & Beyond’s operations including supply chain disruptions and inflation, resulting in low inventory. 

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Bed Bath & Beyond Canada operations are no longer profitable. The company had a net loss of 99.5 million for the 9-month period ending November 26, 2022, according to the documents. 

Not only may this be sad news to consumers, but more so to the company’s employees. According to the document as of January 31, 2023, there were 387 full-time employees and 1,038 part-time employees. 

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It’s not looking great for the US retail stores either. According to Business Insider, out of the 1000 stores nationwide, Bed Bath & Beyond has plans to keep just 360 locations open. 

Bed Bath & Beyond’s parent company buybuy BABY is also closing its Canada locations.

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Nasdaq has notified Bed Bath & Beyond with a warning that it “is not in compliance with the requirements for continued listing”, Retail Dive Reports

 In case you were unaware, Nasdaq is the second-largest stock exchange in the world.  

Bed Bath & Beyond has failed to file its 10-Q quarterly report on time, and the company now has 60 days from the notice date to submit a plan to regain compliance. It’s up to Nasdaq to whether or not to accept the plan.

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A Q-10 report is a report that all public companies must submit after the end of each of their first 3 fiscal quarters. 

Nasdaq requires companies that receive notice of deficiencies, delisting determinations or public reprimand letters to publicly disclose that they are out of compliance with the stock market’s listing requirements. In other words, this isn’t a good look for Bed Bath & Beyond.

This is yet another setback for the retailer, which has already been struggling financially. Bed Bath & Beyond has notified in the recent past that continuing business is a concern, and might need to file for bankruptcy.  

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So what does all this mean? Although Nasdaq’s compliance warning has no immediate effect on listings and tradings of Bed Bath & Beyond’s common stock with the company, it is a negative setback with negative financial implications, Retail Dive reports.

Hopefully, Bed Bed & Beyond can recover quickly from this blow.

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It’s not looking too great for the go-to home retailer. Bed Bath & Beyond has apparently lost $175 million in sales due to out-of-stock items. 

According to Retail Dive, executives have blamed the supply chain issues and inventory constraints that the company—as well as many others—have been enduring. 

In order to try and dodge these challenges, over the last year Bed Bath & Beyond has attempted to undergo a transformation and introduce some new initiatives.  

This included offering a handful of private labels as a way to create a larger assortment. Although, analysts have thought that these new brands weren’t different enough for consumers to actually reach for them over others. In turn, it didn’t make much of a difference in profit. 

Bed Bath & Beyond also closed stores that weren’t meeting revenue goals as well as renovated others, but unfortunately, the lack of inventory was still a major problem. 

Interestingly enough, GlobalData Managing Director Neil Saunders said in emailed comments to Retail Dive that “We do not accept the excuse that this is supply chain induced. While global supply chain issues have been unhelpful, these issues have been occurring for a long time and are deep-seated.”

An initiative that looks promising for the company is the newly implemented online marketplace in which Kroger will sell Bed Bath & Beyond products and BuyBuy Baby banners on the website, as well as in certain stores.

Saunders believes this will help with short-term challenges and introduce the company to a wider range of customers.

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Starting today, our weekend sale roundups will highlight a number of independent Canadian retailers with awesome deals. With stores closing across the globe due to the pandemic, many of these indie shops need our help to survive.

During this time of uncertainty, we hope to introduce you to new Canadian brands and retailers you might not have heard of and share deals from the brands and retailers you already love.

Take a peek at this week’s sale roundup below and consider shopping Canadian before you make a purchase!

Independent Canadian Retailers

gravitypope

If you’re looking to get your designer fix, head over to gravitypope.com. The retailer is taking 15% off sitewide with the promotion code “15OFF”, 25% off last sale pairs, and is offering free shipping across Canada on all orders $50 and up. Brands you’ll find include Acne Studios, Commes Des Garcons, Dr. Martens, and more. Shop the gravitypope sale.

The Cashmere Shop

A new cozy sweater might be just what you need in times of isolation. Toronto’s The Cashmere Shop is offering 20% off its selection of Mongolian cashmere pieces, plus free shipping across Canada. Shop The Cashmere Shop sale.

Muttonhead Apparel

This Toronto-grown unisex label is offering 25% off sitewide with the promotion code “LOCAL25”. Shop hoodies, sweaters, hats, and tees for the whole family, plus much more. Shop the Muttonhead Apparel sale.

meg

Stylish womenswear is just a click away! Right now, meg is offering $50 off orders $150 and up. All of the clothing is made in Toronto and the accessories are all sourced from women-owned brands. Shop the meg sale.

Over The Rainbow

Stock up on your favourite labels and denim at Over The Rainbow. The Toronto-based retailer is offering 15% off (excluding Canada Goose) and free shipping on orders across Canada. Brands featured include Citizens Of Humanity, Mackage, Levi’s, and more. Shop the Over The Rainbow sale.

Knix

For a limited time only, this Toronto-born intimates brand is taking 30% off leakproof underwear — these panties give you protection from periods, pee, and sweat, and are super-absorbent, machine-washable, and are incredibly comfortable. Shop the Knix sale.

Global Retailers

adidas

The Mid Season sale is on now! Shop 40% off select products with the code SPRING. Find brand favourites like NMD sneakers, Stan Smith shoes, iconic track suits, joggers, and more! Shop the adidas sale.

AllSaints

Calling all cool kids! AllSaints is taking 25% off everything until March 31, including its iconic leather jackets and boots. No promotion code is needed for this sale. Shop the AllSaints sale.

Anthropologie

If you’ve been eyeing anything at Anthropologie, now is the time to score. For this weekend only, the womenswear retailer is taking 25% off sitewide, plus free shipping on orders $50 and up. Shop the Anthropologie sale.

Fossil

Add a staple timepiece to your wardrobe with the Fossil sale. Select spring favourites are 30% off, which includes sale items! Use the promotion code “SPRING30” to get the discount. The sale ends on March 29. Shop the Fossil sale.

Coach

Right now, Coach is taking 30% off select styles when you use the promotion code “MARCH30”. You’ll find everything from Coach’s beloved classic styles to its trendier pieces. Plus, free shipping is available on all orders $100 and up. Shop the Coach sale.

Call It Spring

Looking for a new pair of vegan shoes? Or maybe some new accessories? This Canadian retailer is taking 30% off all regular price styles for men and women. Not to mention, there’s free shipping and returns on all orders right now. Shop the Call It Spring sale.

Gap Canada

This weekend, shop the Friends & Family sale for big savings with no exceptions! To receive 40% off everything use the code GAPFRIEND + take an extra 20% off with the code YOURS. Yes, you can layer these coupons! Shop the Gap sale.

GLOBO Shoes

Another retailer hosting a sale on footwear is GLOBO Shoes. All regular price athletic shoes for men, women, and kids — think brands like Vans, Skechers, adidas, Nike, and more — are 15% off. You’ll also get free shipping and returns when you shop. Shop the GLOBO Shoes sale.

Vichy

Up your skincare routine and stock up on your favourite products from Vichy at a discount. When you buy two products, you’ll get 20% off. When you buy three items, you’ll get 25% off. The skincare brand is also offering free shipping on all orders. Use the promotion code “SPRING” when you checkout. Shop the Vichy sale.

Mango

If you want wardrobe staples that will carry you through the spring, head to Mango online for up to 50% off! Find structured coats, leather boots, tailored trousers, flowy dressers, and so much more! Shop the Mango sale.

Michael Kors

If you love Michael Kors, you’ll be happy to hear that the brand is taking 25% off all accessories right now. That includes watches, handbags, wallets, and more. Prices are as marked, so there’s no promotion code necessary. Shop the Michael Kors sale.

Bed Bath & Beyond

If you’re spending your extra time indoors mastering the art of cooking, Bed Bath & Beyond has the perfect sale for you. The retailer is offering spring deals for kitchen meals, with discounts like 25% off bakeware, 25% off select food storage, 25% off select cookware, and more. Shop the Bed Bath & Beyond sale.

Reebok

This weekend is your last chance to shop Reebok’s Mid Season sale. Pick up the perfect loungewear, athletic apparel, and footwear. Take 40% off regular priced items with the code SPRING40 at checkout. Shop the Reebok sale.

Urban Outfitters

Here’s your chance to save over 50% off on statement lifestyle & home pieces to adorn your space! Plus, there’s also an amazing selection of beauty, apparel, and footwear for men and women. Shop the Urban Outfitters sale.

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