Bed Bath & Beyond Stores to Return

A limited number of Bed Bath & Beyond stores will open next year under a new partnership involving Kirkland’s Inc. (Nashville) and Beyond Inc. (Midvale Utah). Specifically, the deal calls for Kirkland’s to become Beyond’s exclusive brick-and-mortar operator and licensee for new, smaller-format (up to 15,000 square feet) “neighborhood” Bed Bath & Beyond locations nationwide.

“An omnichannel approach to Bed Bath & Beyond is quintessential to its success,” said Marcus Lemonis, Executive Chairman of Beyond Inc., whose holdings also include Overstock, Zulily and other home-related online retail brands. “We understand that retail is both an art and a science and have vetted the management team and infrastructure of Kirkland’s Home as an ideal organization to help bring the iconic Bed Bath & Beyond brand back.”

Kirkland’s operates 325 stores in 35 states. Said its CEO Amy Sullivan: “We expect the investment from Beyond will not only enhance our financial performance but also provide meaningful opportunities to introduce Kirkland’s to new customers in a cost-efficient manner while we continue to re-engage our core customer and extend our reach across multiple formats. We plan to leverage the core strengths of the Beyond team by accessing its digital and technical expertise.”

BB&B shuttered all its stores last year after declaring bankruptcy, and Beyond Inc. (formerly Overstock.com) acquired its intellectual property. The Beyond partnership with Kirkland’s — which calls for it to invest $25 million in combined debt and equity in the latter company — is the second such deal it’s made in a week. On Oct. 15, the company said it’s investing $40 million in The Container Store in a separate strategic partnership.