Photo: felixmizioznikov / iStock Editorial / Getty Images
The home goods retailer Bed Bath and Beyond is back, but not in the same way it used to be. Overstock.com purchased the name and branding rights of Bed Bad Beyond and will now use it for online-only sales. The CEO of Bed Bath and Beyond, Jonathan Johnson said the retailer most likely won't come back to brick-and-mortar stores.
"We didn't purchase any leases for the Bed Bath & Beyond stores because we think it's an outdated business model, and it's a big expense that one is having to pass along to customers in the form of higher prices," he said. "So we never say never to physical stores, but it's never for now."
Overstock.com spent about $21.5 million for the rights to Bed Bath and Beyond. The site has all kinds of stuff for the home similar to the original stores.