With the delta variant of the coronavirus continuing its spread across the country, Bed Bath & Beyond experienced “unexpected” traffic declines as consumers shied away from physical stores.
This was particularly prevalent in the retailer’s stores in Florida, Texas and California, which account for a large portion of overall sales, CEO Mark Tritton said.
According to data from foot traffic analytics firm Placer.ai, Bed Bath & Beyond faced a 23.1% decline in store visits in July compared to the same period in 2019. At the same time, visits to HomeGoods and At Home were up 28.6% and 16.9%, respectively.
Source: Retail Dive
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