There are multiple stores you could turn to when you’re shopping for things like bedding, towels, or a new mixer. You could go to a department store, a big box store like Target or Walmart, or you could even shop online and have your items delivered to your door. All of this competition doesn’t make it easy for the brick and mortar stores that specialize in home items like those mentioned above.
Bed Bath & Beyond has been struggling. The home products retailer has made an effort to bring customers into their stores by redesigning interiors and creating product offerings under their own label, but it hasn’t been enough.
Now, the company says their next step is to close 56 of its locations. These locations are spread from coast to coast and were chosen because, according to Bed Bath & Beyond, these locations see the fewest sales. Instead of helping displaced employees find work at another nearby location (like some companies say they’ll do when closing stores), Bed Bath & Beyond plans to simply lay off employees who are currently working at the locations they plan to close.
You can see the full list of stores marked for closure here.
This list of closures will most likely not be the last list we see. In all, the company plans to close about 150 of its locations.
Bed Bath & Beyond owns and operates more than just home decor stores. They also own Buybuy Baby and Harmon Face Values. These locations are not getting cut, at least for now. In fact, the company has recently added additional Buybuy Baby locations.
Besides closing the Bed Bath & Beyond locations, the company also plans to pull away from the strategy of selling products under their own brand. Instead, they will focus more on selling national brands.
Is your local Bed Bath & Beyond location on the list of upcoming store closures? Do you shop at Bed Bath & Beyond very often? What do you think the company could do to make shopping there more appealing to customers?