Bed Bath & Beyond on Track to Finish Closing 200 Stores This Year
If you’re wondering why Bed Bath & Beyond is closing stores, you might be one of the customers in 19 U.S. states where the company has been reducing its footprint this year. The 37 store closures, listed below, are part of a “transformation” that Bed Bath & Beyond CEO Mark Tritton described to investors in Jan. 2022.
“Having concluded just the third quarter of our multi-year plan, we will continue to execute our strategic transformation by diagnosing and reforming our legacy business to achieve our goals,” Tritton said in a news release accompanying the company’s Q3 2021 results. “As we prepare for 2022, we look forward to operating in a normalized environment with a base of business upon which to grow.”
Why is Bed Bath & Beyond closing stores?
In July 2020, Bed Bath & Beyond announced plans to close 200 locations over the next two years. That May, the company had 1,478 stores—a tally that included 955 Bed Bath & Beyond stores and Buybuy Baby, Christmas Tree Shops, and Harmon Face Values locations—according to CNBC.
As Tritton said at the time, the closures were all about bolstering profitability. “We saw there were a number of stores dragging us down,” the CEO told CNBC. “We will continue to look at the rest of our concept doors, now that we have established the data criteria.”
Is Bed Bath & Beyond going out of business?
It sounds like Bed Bath & Beyond is doing everything it can not to go out of business in an economy beset by COVID-19 disruptions, inflation, and supply-chain issues. By Jan. 2022, Bed Bath & Beyond had completed 170 of the 200 planned store closures and expected to close all 200 by the end of the year. “We are executing a full-scale transformation and simultaneously running a business in a highly unpredictable environment,” Tritton told investors in an earnings call at the time, reports CNBC.
As CNN Business reports, Tritton has been attempting a turnaround for the company, having left Target for Bed Bath & Beyond three years ago. Part of that turnaround includes remodeling 450 stores. In an earnings presentation in Jan. 2022, the company stated that it was on track to deliver around 130 store remodels across the U.S. and Canada during fiscal 2021.
Which stores are closing?
According to Bed Bath & Beyond, these are the 37 stores that have closed or are closing so far in 2022 as part of the company’s store fleet optimization:
|Alabama||Oxford: 1000 Oxford Exchange Blvd.|
|Arizona||Casa Grande: 1004 North Promenade Pkwy.|
|Yuma: 1212 South Castle Dome Ave.|
|California||Campbell: Almarida Place, 515 East Hamilton Ave.|
|Laguna Niguel: 32391 Golden Lantern.|
|Milpitas: 147 Great Mall Dr.|
|Rancho Santa Margarita: 22235 El Paseo.|
|Tustin: Tustin Market Place II, 13692 Jamboree Rd.|
|Florida||Orange City: 963 Harley Strickland Blvd.|
|Georgia||Atlanta: 130 Perimeter Center West.|
|Idaho||Marietta: 4475 Roswell Rd.|
|Pocatello: 1732 Hurley Dr.|
|Michigan||Jackson: 1132 Jackson Crossing.|
|Minnesota||Duluth: 1303 Miller Trunk Hwy.|
|Eagan: 1295 Promenade Pl.|
|Missouri||St. Joseph: 5201 North Belt Hwy.|
|Mississippi||Meridian: 131 S. Frontage Rd.|
|New Jersey||Edgewater: Edgewater Commons, 489 River Rd.|
|New York||Auburn: Auburn Plaza, 217 Grant Ave.|
|Canandaigua: 328 Eastern Blvd.|
|Glenmont: 388 Feura Bush Rd.|
|Niagara Falls: 1520 Military Rd.|
|Plainview: 401 S. Oyster Bay Rd.|
|Port Chester: 25 Waterfront Pl.|
|Spring Valley: 14B Spring Valley Marketplace.|
|Ohio||Mansfield: Ontario Towne Center, 2259 Walker Lake Rd.|
|Pennsylvania||Pittsburgh: 7507 McKnight Rd.|
|York: 2845 Concord Rd.|
|Texas||Brownsville: Sunrise Palms Shopping Center, 3000 Pablo Kisel Blvd.|
|San Angelo: 4169 Sunset Dr.|
|Virginia||Vienna: 2051 Chain Bridge Rd.|
|Washington||East Wenatchee: 511 Valley Mall Pkwy.|
|Longview: 200 Triangle Center.|
|Seattle: 2600 SW Barton St.|
|Union Gap: 1740 East Washington St.|
|Wisconsin||Sheboygan: Memorial Mall, 3347 Kohler Memorial Dr.|
|West Virginia||Triadelphia: 555 Cabela Dr.|