Headlines

Bed Bath & Beyond Closing 150 Stores as It Looks for a Path Forward

The retailer is also planning to slash 20 percent of its corporate and supply chain workforce

Published

2 years ago

September 1, 2022

VMSD Staff

Bed Bath & Beyond Closing 150 Stores as It Looks for a Path Forward — Bed Bath & Beyond's remodeled New York flagship opened July 22, 2021. Photography: Courtesy of Bed Bath & Beyond

Bed Bath & Beyond’s remodeled New York flagship opened July 22, 2021. Photography: Courtesy of Bed Bath & Beyond

Bed Bath & Beyond (Union, N.J.) laid out its plans for a turnaround during a recent call with investors, and also announced Wednesday its plans to close some stores and mix up its merchandise selection.

The retailer also plans to cut its corporate and supply chain workforce by at least 20 percent. Bed Bath & Beyond has already begun closing 150 of its “lower producing” locations, which will shrink its store footprint by 16 percent.

Bed Bath & Beyond saw same-store sales decline by 26 percent over a three-month period ending Aug. 27.

Mara Sirhal, Bed Bath & Beyond’s Brand President, says, “There is still an incredibly degree of love for Bed Bath & Beyond … We must get back our rightful place as the home category destination, and our goal is to achieve this by leading with the product and brands our customers want.”

The company is also eliminating the roles of Chief Stores Officer and Chief Operating Officer.

VMSD Staff

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