ANALYSIS: Activist Wins Weren’t Enough to Save Bed Bath & Beyond

Despite activist efforts that included five campaigns and seven conceded board seats, popular activist target Bed Bath & Beyond Inc announced late last month that the company would file for bankruptcy and close all its stores.

Why did the home goods retailer ultimately end up failing despite repeated activist efforts to cut costs and instill meaningful change at the company?

Bed Bath & Activism

To answer that question, I examined the successes and failures of the five public activism campaigns launched by Bed Bath & Beyond investors, spanning a period of four years, from 2019 to 2022.