Bad News for Bed Bath & Beyond

Company will close 40 stores, but also open 15 'next-generation lab stores'
By Polly Davis Doig,  Newser Staff
Posted Apr 14, 2019 5:41 AM CDT
Bad News for Bed Bath & Beyond
A Bed Bath & Beyond customer enters a store in Mountain View, Calif., Wednesday, May 9, 2012. Bed Bath & Beyond Inc. said Wednesday it agreed to buy smaller home goods retailer Cost Plus Inc. for about $495 million.   (AP Photo/Paul Sakuma)

Bed Bath & Beyond is looking to shut 40 of its 1,024 stores amid slumping sales in an attempt to revitalize its struggling brand that includes opening 15 new "next-generation lab stores" that place what its CEO calls "a greater emphasis on home decor, food and beverage, and health and beauty care." As CNN reports, the company already has 21 such lab stores, which have posted sales that are 2.2% higher than traditional stores. But as for the closures, USA Today reports that the company's CFO says that "this number will grow unless we are able to negotiate more favorable lease terms with our landlords." The company also operates Buy Buy Baby, Harmon Face Values, World Market, and the Christmas Tree Shops. (More Bed Bath & Beyond stories.)

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