Mike Lindell’s MyPillow brand was removed from the Bed Bath & Beyond shelves in 2021 for his stolen election claims from the 2020 presidential election.
I love this! Bed Bath & Beyond canceled Mike Lindell and now the market is cancelling them https://t.co/Ogz3lFdO82
— Dinesh D'Souza (@DineshDSouza) August 31, 2022
The company removed the items from their stores due to the low sales they claimed.
“As previously announced, we have been rationalizing our assortment to discontinue a number of underperforming items and brands. This includes the MyPillow product line,” Bed Bath & Beyond spokesperson emailedBusiness Insider. “Our decisions are data-driven, customer-inspired, and are delivering substantial growth in our key destination categories.”
Lindell felt the company was pressured by social justice warrior activists who made the company remove MyPillow items.
It has come out in recent days that the company is about to cope with massive layoffs. They announced that they would be shaving 500 jobs which entail about 3% of their workforce, to an immediate contingency plan to save up.
Conservatives were unhappy when Bed Bath & Beyond decided to pull MyPillow items from their shelves, which most boycotted.
Now, the retailer can’t afford to pay its employees and have been forced to close dozens of locations in turn, leaving another touch to “go woke, go broke.”
On a call with investors, the New Jersey-based retailer explained its latest turnaround push. It has started closing about 150 of its “lower producing” namesake stores. It will also slash costs by shrinking headcount by about 20% across its corporate and supply chain workforce. To strengthen its balance sheet, the company said it secured more than $500 million in new financing, including a loan.
The moves are urgently needed for the troubled retailer, which also disclosed Wednesday that slowing sales have carried into the most recent quarter. Same-store sales plummeted 26% for the three-month period ended August 27 – an even steeper drop than the declines of recent quarters.
Plenty of retail stores have taken a dip in revenue as they bow down to leftwing activist groups that instruct these corporations to follow their demands.
The public company has fallen heavily in its stock prices, making investors weary about its future.
A class action was filed against several company executives on August 23 in Washington, D.C.
The company is now taking massive hits publicly since there’s potential corruption among the high offices of the failing American retail store.