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Bed Bath & Beyond announced Wednesday it plans to close dozens of stores and lay off 20% of staff.
"The Company has identified and commenced the closure of approximately 150 lower-producing Bed Bath & Beyond banner stores," Bed Bath & Beyond stated in a news release.
A list of stores that will be closing was not immediately released. Bed Bath & Beyond has 20 locations in Massachusetts and eight in New Hampshire, according to its website. WBZ-TV reached out to the company to see if any local stores will be closing; a spokesman said Bed Bath & Beyond "will share more information when available."
The company says sales are down 26% for the second quarter of the fiscal 2022 year compared to 2021.
Bed Bath & Beyond shares fell 25% in premarket trading.
"The Company has identified and commenced the closure of approximately 150 lower-producing Bed Bath & Beyond banner stores," Bed Bath & Beyond stated in a news release.
A list of stores that will be closing was not immediately released. Bed Bath & Beyond has 20 locations in Massachusetts and eight in New Hampshire, according to its website. WBZ-TV reached out to the company to see if any local stores will be closing; a spokesman said Bed Bath & Beyond "will share more information when available."
The company says sales are down 26% for the second quarter of the fiscal 2022 year compared to 2021.
Bed Bath & Beyond shares fell 25% in premarket trading.
Bed Bath & Beyond closing 150 stores, laying off 20% of staff
Bed Bath & Beyond has 20 locations in Massachusetts and eight in New Hampshire.
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