While Bed Bath & Beyond is a well-known retailer in its own right, it's their 20% off coupons that make them a favorite for many. Seriously, we bet anyone reading this can say they've used at least one in their lifetime. And the fact that you can use more than one at a time and they never expire makes them even better. But the coupons that have built up their brand loyalty are now backfiring — big time.
Apparently, even though the revenue of the retail giant's most recent quarter rose 1.7%, their profit fell 10% — and the company blames the blue-and-white coupons we love so dearly for their financial woes. Why? Well, it seems customers have grown accustomed to shopping with the discount, so instead of purchasing a full-price item, they usually choose to wait until they get their next voucher to hit the aisles for new bath towels.
Which leads us to the bad news: While we don't know exactly how Bed Bath & Beyond plans to respond, we do know they promised investors they'd scale back on these kinds of promotions (and earlier this year, they made their return policy stricter, too). Translation: You should take advantage of these coupons while you still can.
[via The Washington Post]
http://www.goodhousekeeping.com/life/money/news/a35424/bed-bath-and-beyond-bad-coupon-news/
