Bed Bath & Beyond closing 37 stores including one in eastern Idaho
Jordan Valinsky, CNN Business
Published at | Updated at
The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce under CEO Mark Tritton.
Affected locations will be closed by the end of February and are currently having liquidation sales.
Bed Bath & Beyond is in the midst of remodeling 450 stores, representing about half of its locations, at a cost of $250 million. The company has been hit with falling sales and declining foot traffic in recent years as shoppers defect to competitors, such as Target and Amazon, which carry much of the same household basics that Bed Bath & Beyond sells.
Tritton joined Bed Bath & Beyond from Target three years ago and has led the company through a turnaround over the past few years as housebound shoppers increased their spending on kitchen and home essentials.
The retailer released earnings Thursday and missed analysts’ expectations. Same-stores sales slipped slipped 7% with sales of $1.9 billion, a 30% decline compared to the same quarter a year ago. Ongoing supply chain issues and inventory constraints cost the company about $100 million, Tritton said.
Shares were nearly 4% higher in Thursday trading.
Here are the 37 stores that are closing:
- Oxford: 1000 Oxford Exchange Blvd.
- Casa Grande: 1004 North Promenade Parkway
- Yuma: 1212 South Castle Dome Ave.
- Campbell: Almarida Place, 515 East Hamilton Avenue
- Laguna Niguel: 32391 Golden Lantern
- Milpitas: 147 Great Mall Drive
- Rancho Santa Margarita: 22235 El Paseo
- Tustin: Tustin Market Place II, 13692 Jamboree Road
- Orange City: 963 Harley Strickland Blvd.
- Atlanta: 130 Perimeter Center West
- Marietta: 4475 Roswell Road
- Pocatello: 1732 Hurley Drive
- Jackson: 1132 Jackson Crossing
- Duluth: 1303 Miller Trunk Highway
- Eagan: 1295 Promenade Place
- St. Joseph: 5201 North Belt Highway
- Meridian: 131 S. Frontage Road
- Edgewater: Edgewater Commons, 489 River Road
- Auburn: Auburn Plaza, 217 Grant Ave.
- Canandaigua: 328 Eastern Blvd.
- Glenmont: 388 Feura Bush Road
- Niagara Falls: 1520 Military Road
- Plainview: 401 S. Oyster Bay Road
- Port Chester: 25 Waterfront Place
- Spring Valley: 14B Spring Valley Marketplace
- Mansfield: Ontario Towne Center, 2259 Walker Lake Road
- Pittsburgh: 7507 McKnight Road
- York: 2845 Concord Road
- Brownsville: Sunrise Palms Shopping Center, 3000 Pablo Kisel Blvd.
- San Angelo: 4169 Sunset Drive
- Vienna: 2051 Chain Bridge Road
- East Wenatchee: 511 Valley Mall Parkway
- Longview: 200 Triangle Center
- Seattle: 2600 SW Barton St.
- Union Gap: 1740 East Washington St.
- Sheboygan: Memorial Mall, 3347 Kohler Memorial Drive
- Triadelphia: 555 Cabela Drive