Bed Bath & Beyond is closing 200 stores as sales drop 50%
Bed Bath & Beyond is looking to close around 200 stores over the next two years after the COVID-19 pandemic hit the retailer hard, resulting in a 49% loss of sales.
The company announced the closures in its first-quarter investor-relations presentation, stating that the closures would affect “mostly” Bed Bath & Beyond stores, though the company also owns other retail chains, including Buy Buy Baby and Cost ...
Posted — UpdatedBed Bath & Beyond is looking to close around 200 stores over the next two years after the COVID-19 pandemic hit the retailer hard, resulting in a 49% loss of sales.
According to Bed Bath & Beyond, 90% of its stores remained closed during the majority of the first quarter of 2020, which led to the decline in sales.
While the company does not specify which stores will be closing just yet, for now, nearly all Bed, Bath & Beyond stores have reopened since closing in March, though the company is limiting the number of shoppers in stores to help maintain social distancing.
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