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Bed Bath & Beyond Closes 7 More Stores in SoCal

Bed Bath & Beyond Plans 200 Store Closures Over Next Two Years

Following a fiscal first quarter that saw its net sales decline 49% year over year, Bed Bath & Beyond said Thursday it planned to close 200 stores over the next two years to optimize its real estate and fleet strategies. The Union, NJ-based housewares retailer, which operates 1,478 states under a variety of brands, won’t provide financial guidance for 2020 due to the continued uncertainty stemming from the COVID-19 pandemic.

Mark Tritton, Bed Bath & Beyond’s president and CEO, said, “The impact of the COVID-19 situation was felt across our business during our fiscal first quarter, including loss of sales due to temporary store closures and margin pressure from the substantial channel shift to digital.” Nearly two-thirds of fiscal Q1’s sales were digital.

He added, “We believe Bed Bath & Beyond will emerge from this crisis even stronger, given the strength of our brand, our people and our balance sheet.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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