Bed Bath & Beyond (NASDAQ:BBBY) stock is in the news today as the retail company is no longer accepting coupons as it prepares for store closings.
Bed Bath & Beyond alerted customers that they would only have from Sunday through Tuesday to use their coupons for its store. That marks today as the first time it will no longer accept its staple 20% off coupons.
While those coupons are no longer accepted, that doesn’t mean customers can’t save money at Bed Bath & Beyond. The company is looking to liquidate all of its stock as it prepares to wind down its business. This has it offering deep discounts to customers instead.
Bed Bath & Beyond Store Closings
With the recent bankruptcy news, it should come as no surprise that Bed Bath & Beyond is getting ready for store closings. The retailer was already struggling well before its bankruptcy filing and shutting down stores is a natural part of its shutdown process.
Of course, that doesn’t mean those Bed Bath & Beyond locations will remain empty. Many other retailers that have better weathered the current economy will likely move into them. That’ll hopefully fill the void left behind as customers seek out new places to shop.
BBBY stock is down 35.7% as of Wednesday morning and is down 94.5% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
