More Bed Bath and Beyond Stores Closing After Christmas
New Jersey-based home goods retailer Bed Bath & Beyond dropped a bombshell yesterday when it announced that the number of stores it was planning to close has risen by more than 30 percent.
According to the report from USA Today, the company has been planning closures for a while now to combat poor fiscal performance. The original plan was to eliminate 40 stores after the very lucrative Christmas shopping season, but analysts with the company say that would simply not be enough to return to profitability. The decision has been made to up that number to around 60.
According to the report, 40 of the closings will be Bed Bath & Beyond branded stores. The remaining 20 store on the chopping block would be from the other concept store brands the company operates. Bed Bath & Beyond Inc. also owns buybuy Baby, Harmon Face Values and World Market. The closings are expect to come before March of 2020. No specific locations were reported.