Bed Bath And Beyond Closing Over 40 Stores
A new turnaround strategy includes closing dozens of stores for Bed Bath and Beyond.
Cutting the fat is nothing new in retail as we recently reported that Kay Jewelers, Jared and Zales announced their closing about 150 stores as well as certain locations for Victoria's Secret and many more.
CNN reports the Bed Bath & Beyond turnaround plan includes shutting down about 40 locations this year and testing new ideas with "lab" stores that sell more home decor and food products. The stores closing their doors will be those that can't negotiate better lease terms at some locations. The company currently has 1024 sites and is headquartered out of Union, NJ.
CEO Steven Temares said that Bed Bath & Beyond "next-generation lab stores" have fared better than other locations. The lab stores have "a greater emphasis on home decor, food and beverage, and health and beauty care," Temares said, and different layouts that aim to give shoppers better views of the merchandise.
There are 12 Bed Bath & Beyond locations in NYS including:
- New Hartford
- Saratoga Springs
Bed Bath & Beyond closed the Oneonta location earlier this year. The 40 Bed Bath and Beyond locations closing have not yet been released.