(Liberty Bell) – Bed, Bath, & Beyond, which was one of the first companies to stop selling Mike Lindell’s MyPillow products due to his challenging of the 2020 presidential election results, is now cutting down on the use of air conditioning in its stores as a means of compensating for bad sales, according to a new report released by Bank of America.
According to WND, the nationwide retail chain’s decision back in January of 2021 to drop Lindell’s products was soon followed up by a boycott. During the later part of the month, shares for the company dropped like a rock, going down 36.4 percent, which is the biggest one-day loss the company has experienced since going public in the summer of 1992.
The company kicked off 2022 planning to shut down 37 stores in 19 states.
“Earlier this month, Walmart discontinued Lindell’s MyPillow product at its stores. In January, Lindell said one of the nation’s largest banks move to dump the nine businesses and charities he has founded in the wake of his success with MyPillow,” WND reported.
“A representative of Bed Bath & Beyond told CNN Business there has been no order from corporate to change store temperature guidelines. But analysts at Bank of America who have visited stores, the network said, ‘report mounting concerns, including labor hours that have been meaningfully cut, scaled back utilities, reduced store operating hours and canceled remodeling projects,'” the report continued.
Bed Bath & Beyond is struggling so much right now, they’re cutting the AC off to save money.
This wouldn’t be happening if they didn’t cancel Mike Lindell’s MyPillow!
— Brigitte Gabriel (@ACTBrigitte) June 29, 2022
According to analysts, even more stores are expected to close. CNN also pointed out that fire sales and price reductions are popping up everywhere, including some up to 50 percent off bedding and furniture products.
“An easing of COVID restrictions means a lower demand for home goods and supply chain problems have led to a lack of inventory to attract customers, they said. However, competitors, including Walmart and Target, have seen their traffic remain steady. Meanwhile, Bed Bath & Beyond is down 20% to 30% year-over-year,” WND’s report concluded.
So what’s the big takeaway from all of this?
Go woke, go broke.
All of the company’s financial troubles started happening when they made the decision to put politics ahead of profit. Allowing the beliefs of a CEO over the outcome of an election to be placed above making money opened the door for a boycott that truly did damage their bottom line, and it’s looking like they may not be able to recover.
The question they need to ask themselves right now is was it worth it?
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