Bed Bath & Beyond Inc. Changes Corporate Name, HQ Location

Bed Bath & Beyond Inc. is changing the company name to Neighborhood Intelligence, relocating its corporate headquarters to Nashville, and moving the stock listing from NYSE to Nasdaq. These moves are all part of CEO Marcus Lemonis' vision of an “everything home” ecosystem built around three interconnected pillars — omnichannel retail, home services and home ownership. Recent acquisitions of Closet Works and Lumber Liquidators, as well as real estate brokerage firm Fathom will be integral in enabling Bed Bath & Beyond to build out the service component for customers.

Total Retail's Take: If you're keeping track, this is the fourth name change for the company in recent years: Overstock.com → Beyond, Inc. → Bed Bath & Beyond, Inc. → Neighborhood Intelligence. However, this latest renaming is more than a cosmetic change. The company leaned heavily on the Bed Bath & Beyond name after acquiring its intellectual property out of bankruptcy because it was a recognizable brand in the retail industry. Today, Lemonis and his leadership team are signaling that the parent company has outgrown a single retail banner. The company is inclusive of Bed Bath & Beyond, Overstock, buybuy BABY, and The Container Store. Combine that with the technology and data capabilities under the new Neighborhood Intelligence identity, and you get a sense of the larger ecosystem that is being built. Core to that growing ecosystem is expanding beyond traditional retail into home services, a channel which Lemonis is particularly bullish on.

"Retail can only introduce us to the customer," Lemonis said on a call with analysts on Tuesday. "Home services allow us to deepen that trust. Quite frankly, it's where the real margin exists. When a customer invites us across the threshold, they're trusting us with an expansive and disruptive project inside of their home where their families live."