Lawton’s Bed, Bath, & Beyond Is Closing?
In a not-so-shocking bombshell announcement from the Bed, Bath, & Beyond corporate headquarters today, it was announced that the home store will be closing doors permanently on 150 "low-performing" stores across the nation... It's natural to wonder if Lawton's BB&B will be part of that 150.
Call it cynical if you want, but this is just how publically traded, Wall Street-controlled companies operate in modern-day America. They make earnings and build more stores to show growth... the more they build, the better it looks on paper, the more it sells on the stock market. It's a weird cycle of pretend money.
Eventually, the bubble always breaks. As soon as profit growth slows, the stock takes a hard enough hit to signal a turning point of sorts. More often than not, locations are shuttered, the company lays off employees, and everyone scrambles to keep the company from filing bankruptcy and turning things over to the corporate raiders that would inevitably sell off every asset a company owns for a massive profit.
It really is a broken system that rewards toxicity, but that's just the way it is.
I can't tell you if Lawton's Bed, Bath, & Beyond is on that particular chopping block, but surely the company doesn't operate stores in towns smaller than ours, right?
The announcement is only hours old at this point, but the struggle appears to be real. Not only from an earnings standpoint, BB&B is also looking for new leadership to save the brand as a whole.
While it is a nice place to go look at stuff before buying it cheaper on Amazon, it had a good run. Now the only question is... if they close in Lawton, will that be the building JC Penney moves to?
The long-time rumor, which JCP staff openly talk about, is that the company is waiting on Dick's to wrap up their lease so they can evacuate the Titanic of a mall... but with the assumption that another big space might soon come available, it's hard not to think about what could be.
Also, if you're in the market for quality sheets that'll last a lifetime, The Company Store... You're welcome.