Bed Bath & Beyond Parent ‘Reclaims’ Company Name
Bed Bath & Beyond’s parent company said it’s time for a name change.
[contact-form-7]Beyond said it will “reclaim” the name Bed Bath & Beyond and begin trading under the ticker symbol BBBY on the New York Stock Exchange starting Aug. 29, according to a Monday (Aug. 18) press release.
“Our name change is highlighting one of the most valuable pieces of intellectual property that investors and consumers know today and does not change our intense focus on growing revenue, achieving profitability in the near term, and monetizing valuable blockchain assets,” Beyond Executive Chairman and Principal Executive Officer Marcus Lemonis said in the release. “We remain laser focused on growing the Bed Bath & Beyond brand, building Overstock.com back to a billion-dollar nameplate and unlocking value within our blockchain assets, particularly tZERO and GrainChain.”
Blockchain was part of the focus on the company’s effort to reacquire its Buybuy Baby brand earlier this year.
The company said in February that it was exploring the tokenization of part of Buybuy Baby’s intellectual property, creating a digital dividend for investors. It also saw an opportunity to use its partner tZERO’s blockchain technology to develop “the first ledger that records all significant life events,” Lemonis said, employing things like birth and medical records.
“This initiative, which we’re calling the ‘LifeChain,’ will integrate the consumer’s financial and digital assets into a single, secure digital wallet, supported by Salesforce and its Agentforce technology,” Lemonis said.
Bed Bath & Beyond declared bankruptcy in April 2023 after months of warning of financial troubles and amid a struggle to find funding.
Two months later, Overstock acquired BB&B’s intellectual property and some of its digital assets for $21.5 million.
In 2024, Beyond announced its partnership with Kirkland’s, investing $25 million into the home decor specialty retailer.
As part of the arrangement, Bed Bath & Beyond brick-and-mortar stores made a smaller-format comeback, with Kirland’s running new “neighborhood” Bed Bath & Beyond locations of up to 15,000 square feet in size and based throughout the United States.
“Over the next 24 months, the companies plan to convert additional Kirkland’s locations into small to midsize format Bed Bath & Beyond and Buybuy Baby stores and will continue to accept the legendary Bed Bath & Beyond coupon, no matter how old, both online and in-store,” Lemonis said in the Monday press release.
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