Bed Bath & Beyond to close 200 stores

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

(WIAT) — The economic downturn caused by the coronavirus pandemic is forcing Bed Bath & Beyond to permanently close 200 stores.

The closings will take place over the next two years and amount to about 20% of its namesake stores.

Wall Street analysts had warned that Bed Bath and Beyond was in trouble before the COVID-19 pandemic hit the U.S.

In a quarterly statement released Wednesday, the company said the closings would save between $250 million and $350 million a year.

Bed Bath & Beyond CEO Mark Tritton said the retailer will emerge from this crisis even stronger, given the strength of the brand. The New Jersey-based retailer has not identified which of its stores would be closing yet.


LATEST POSTS

FOX 2 Newsletters

Sign up for a newsletter from FOX 2 to get updates about news and weather. We offer daily headlines, breaking news, severe weather, and forecast emails.

Popular

Latest News

More News