Marketing
Bed Bath & Beyond adds 150 stores to closing list
February 8, 2023
Bed Bath & Beyond will close an additional 150 stores, just a month shy of announcing it was aiming to close 87 locations.
The latest additions to the store closing list means the retailer will have closed 400 stores in the past year, according to a CNN report.
In mid January the retailer announced it was closing 150 more stores just a week after announcing it was shuttering 87 locations.
The company in a recent filing has forecasted that its Q1 sales may reflect a dip of 30% to 40% but expects sales improvement to follow. It's seeking to raise about $1 billion to keep bankruptcy at bay, according to the CNN report, and has named Holly Etlin as its interim CFO.
The 62-year-old retailer lost 17% of sales in 2020 and 14% in 2021 due to pandemic closings during the COVID-19 time frame, according to CNN.
