Bed Bath & Beyond Inc. is an American chain of domestic merchandise retail stores in the United States, Puerto Rico, Canada and Mexico. Founded in 1971, the stores sell home goods primarily for the bedroom and bathroom, as well as kitchen and dining room. The company is included in the S&P 400 and Global 1200 Indices. It is also counted among the Fortune 500 and the Forbes Global 2000 as well.
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History
In 1971, Warren Eisenberg and Leonard Feinstein opened a store in Springfield, New Jersey called Bed 'n Bath. By 1985, Eisenberg and Feinstein were operating 17 stores in the New York metropolitan area and California. Also in 1985, the first superstore was opened, as an attempt to remain competitive with Linens 'n Things, Pacific Linen, and Luxury Linens. In order to properly represent the size increase in its retail stores, the company changed its name to Bed Bath & Beyond.
Competition
Bed Bath and Beyond has several major retail competitors, including Walmart, Target, and JCPenney, as well as several mid-sized competitors like Pier 1 Imports. Companies such as Crate & Barrel, IKEA, and the numerous Williams-Sonoma companies like Pottery Barn and West Elm are competitors as well.
Subsidiaries
Acquisitions
- Harmon Stores - acquired in March 2002, operates Face Values
- Christmas Tree Shops - acquired in June 2003 for $200 million
- Buy Buy Baby - acquired in March 2007 for $67 million
- Cost Plus, Inc. - acquired in May 2012 for $495 million, operates Cost Plus World Market and World Market
- Linen Holdings - acquired in June 2012 for $105 million
- Of a Kind - acquired in August 2015 for an undisclosed amount
- One Kings Lane - acquired in June 2016 for an undisclosed amount
- PersonalizationMall.com - acquired in November 2016 for $190 million.
Other subsidiaries
- Bed Bath & Beyond Canada L.P.
- Bed Bath & Beyond Mexico - a joint venture with Home & More to operate four stores in Mexico under the name "Bed Bath & Beyond"
- Bed Bath & Beyond Invitations - an online wedding invitation venture
New Zealand chain
There is a New Zealand chain with the name "Bed Bath & Beyond", which has no corporate connection with the American company.
Source of the article : Wikipedia
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