Bed Bath & Beyond will close as many as 200 stores over the next two years, the company said.
The New Jersey-based home goods chain said net sales fell some $1.3 billion – a decrease of 49% compared to the previous year – due to coronavirus shutdowns in March, April and May. Digital sales were brisk, however, growing 100% during April and May.
“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,” Mark Tritton, Bed Bath & Beyond’s President and CEO said.
“From the beginning of this crisis, we have taken measured, purposeful steps to help keep our people safe and our customers serviced, and we are proud of the way our teams have navigated this unprecedented challenge with speed and agility. At the same time, our actions to strengthen our financial position and liquidity are enhancing our flexibility and capacity to invest and rebuild our business for long-term success.
The locations slated for closure haven’t been announced. Bed, Bath & Beyond operates some 955 locations, as well as chains buybuy Baby, Christmas Tree Shops and Harmon Face Values.
Almost all Bed, Bath & Beyond stores have now reopened, the company said.
What’s on sale?
There are several deals at Bed, Bath & Beyond:
Select bedding is up to 30% off. One popular deal is the One Kings Lane Open House Stonington Bedding Collection. A full/queen is $90.99 and king is $104.99 with free shipping on orders over $39.
$20 OFF SELECT Wamsutta sheet sets.
$20 off select Therapedic mattress pads and toppers
20% off Titan shower curtain liners
Up to 50% off bath towels and rugs
Up to 20% off coffee products
Get up to 50% off outdoor furniture
Select clearance items up to 75% off.
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July 09, 2020 at 07:07PM
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Bed, Bath & Beyond will close 200 stores - AL.com
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