'We’re not in a rush to make mistakes.' The frugal mind-set that deemed Post-it notes too expensive to use also left Bed Bath & Beyond slow to adapt to e-commerce and a shifting retail landscape.
It took two months for activist investors to unseat Bed Bath & Beyond Inc.’s top officials, a drama that concluded last week when the company settled with the group. But the crisis was decades in the making.
Its leaders built a superstore for housewares, with more than 1,500 locations that had so much merchandise that products hung from the ceiling. But they were ill-equipped, former employees say, to transition to a world where consumers can access thousands of items by tapping a smartphone screen.
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