Bed Bath & Beyond is coming back to brick and mortar stores

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how Bed Bath & Beyond is getting help from a rival.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on

00:03the street today. Stocks rebounded on Wednesday led by upbeat corporate results. The Dow set a

00:08fresh record closing high. United Airlines was a standout. The stock soared after the airline

00:14beat profit forecast and guided estimates higher for the holiday travel quarter. The airline

00:20echoed rival Delta when it said it saw early signs of a return of pricing power. Investors

00:25will have earnings and the economy to guide action on Thursday. Netflix and Taiwan Semiconductor

00:31released quarterly results. Meanwhile, retail sales, factory output and weekly jobless claims

00:36data are also due. Turning now to other headlines, there may be life after death for Bed Bath and

00:43Beyond. The houseware retailer that went bankrupt in 2023 is coming back, albeit in a limited

00:49fashion. It's going to be a store within a store at the Container Store. The partnership will

00:55infuse $40 million into the Container Store's business and help it cope with its own financial

01:00struggles. The retailer hasn't posted a profit in three years. In exchange, Bed Bath and Beyond

01:06will sell branded products inside the Container Store's 102 locations. Marcus Limones, executive

01:13chairman of Beyond Inc., which bought the name rights for Bed Bath and Beyond, said, quote,

01:18partnerships like this further support the value of iconic brands leveraging each other's assets

01:24and core competencies while improving customer conversion and retention, enhancing margins and

01:30optimizing market expenses, which are the principal drivers in delivering value creation

01:35and profitable growth. The Container Store hopes this partnership will help it avoid the same

01:41bankruptcy fate as Bed Bath and Beyond, which is now part of the Beyond portfolio, including

01:47online retailers Overstock and Zulily. That'll do it for your daily briefing from the New York Stock

01:53Exchange. I'm Conway Gittins with The Street.

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