Get woke, go broke.
Bed Bath & Beyond is turning off air conditioning in its stores to save money as sales drop.
Recall, Bed Bath & Beyond in January 2021 announced they would no longer carry MyPillow products after the Founder and CEO Mike Lindell challenged the results of the fraudulent 2020 presidential election.
Bed Bath & Beyond has now officially DROPPED MyPillow! Thank you to everyone who stepped up and help amplify our message and thank you to @BedBathBeyond for siding with democracy. https://t.co/otp3dH7r7c
— MeidasTouch.com (@MeidasTouch) January 19, 2021
Bed Bath & Beyond has cut its air conditioning use in stores to offset a drop in sales after freezing out Mike Lindell.
CNN Business reported:
Retailers typically want their sales numbers to be red hot, not their customers. But Bed Bath & Beyond (BBBY) is reportedly dealing with cooled momentum and heated customers at its stores.
A new report from Bank of America claims that the company has cut air conditioning in an effort to quickly lower expenses to make up for a slump in sales.
Bed Bath & Beyond told CNN that any changes in store temperature guidelines did not come from corporate. “We’ve been contacted about this report, and to be clear, no Bed Bath & Beyond stores were directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage,” said a representative.
Still, analysts at Bank of America who have conducted store visits report mounting concerns, including labor hours that have been meaningfully cut, scaled back utilities, reduced store operating hours and canceled remodeling projects. Rewards programs have also been scaled back and replaced. The analysts expect Bed Bath & Beyond’s management will soon announce more store closures and halt openings of its Buy Buy Baby stores.