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       lite.cnn.com - on gopher - inofficial
       
       
       ARTICLE VIEW: 
       
       Bed Bath & Beyond is returning to brick and mortar stores — at a
       rival
       
       By Jordan Valinsky, CNN
       
       Updated: 
       
       8:05 AM EDT, Wed October 16, 2024
       
       Source: CNN
       
       Bed Bath & Beyond is near you after going out of business last year.
       But this time, it’s taking up space at a rival.
       
       Beyond Inc., which bought the out of bankruptcy, is investing $40
       million in the Container Store and giving the home goods and former
       competitor a much-needed lifeline as it struggles with its own
       financial issues.
       
       As part of the investment, Bed Bath & Beyond branded kitchen, bath and
       bedroom products will soon be sold at the Container Store’s 102
       locations.
       
       The partnership aims to “improve customer experience utilizing both
       the iconic” Bed Bath & Beyond and the Container Store names, a press
       release said, which are two of the most recognizable names in shopping
       that have fallen into a financial mess in recent years.
       
       In May, the Container Store began a strategic review of its business as
       it struggles with slumping sales and hasn’t posted a profit in three
       years. A few months later, the chain said it would stop offering
       financial guidance as it searched for help.
       
       For Bed Bath & Beyond (), its rebirth from a bankrupt physical retailer
       to an e-commerce giant hasn’t lived up to its expectations. Last
       year, its name and digital assets were purchased by Overstock.com,
       prompting parent company Beyond Inc. to ditch the Overstock brand.
       However, that in July.
       
       “Through the licensing of the Bed Bath & Beyond brand, the Container
       Store will enhance their store format and current general merchandise
       offering by incorporating the most popular Bed Bath & Beyond products
       to drive improved financial performance while providing customers a
       more comprehensive product offering for their home and organizational
       needs,” said Marcus Lemonis, Beyond Inc.’s executive chairman, in a
       release.
       
       Shares of the Container Store () soared 40% in premarket trading
       Wednesday.
       
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