Bed Bath and Beyond Announces More Store Closings and Layoffs – khak.com

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More store closings and layoffs are coming to Bed Bath and Beyond locations across the country. Axios is reporting that the company plans to close 150 stores and lay off 20% of its workforce.

Signs indicated that this may be the New Jersey-based retailer's last chance to turn things around. Axios reports that sales at Bed Bath and Beyond fell some 25% during the first quarter of 2022. In June, the company reported a loss of $358 million, more than seven times worse than one year ago. Interim CEO of Bed Bath and Beyond, Sue Gove, stated,
We have taken a thorough look at our business, and today, we are announcing immediate actions aimed to increase customer engagement, drive traffic, and recapture market share.
So which stores will be closing? Axios reports that Bed Bath and Beyond has already identified and commenced the latest round of closings. A list of stores that would be shuttering was not released and the company said that it would "share more information when available." Bed Bath and Beyond have two Eastern Iowa locations, 4840 1st Avenue in Cedar Rapids and 2515 Corridor Way in Coralville.

The closings are nothing new for the company. Axios reports that Bed Bath and Beyond announced in 2020 that they would be closing 200 stores over the next several years. In past liquidation sales, all sales were final and no coupons were accepted.
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