Bed, Bath & Beyond announced Thursday that more than 50 stores nationwide will close before 2023.
2850 Plainfield Road, Joliet, Ill.Fairview Center, 6611 N. Illinois, Fairview Heights, Ill., the chain's footprint has shrunk by approximately 35 percent over the past two years, as the company has shuttered several Bed, Bath & Beyond locations. Bed, Bath & Beyond also owns several other chains, including Buybuy Baby and Harmon Face Values.
The chain, including subsidiaries, operated 1,478 stores in the first quarter of 2020, a metric that plummeted to 955 stores by the same time this year. Additionally, same-store sales saw a 23 percent decline in this year's first quarter, with a 26 percent decline noted for the three-month period ending in August.
Bed, Bath & Beyond obtained a loan last month, ahead of the busy holiday season when the chain hopes to revitalize sales that have notably declined for several years. The company's corporate and supply chain staff has recently been cut by 20 percent.63 E. Marketview Drive, Champaign, Ill.5786 Northwest Highway, Crystal Lake, Ill.215 Harlem Avenue, Forest Park, Ill.20505 N. Rand Road, Kildeer, Ill.4800 N. University Street, Peoria, Ill.5545 W. Touhy Avenue, Skokie, Ill.
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