Outside of searching wedding registries for a shower you’re begrudgingly going to, the last time Bed Bath & Beyond was relevant was when Abby’s obsession with the store was a running joke on “Broad City.”
It’s no secret that many shoppers have shifted to Amazon for the same items Bed Bath & Beyond boasts, and the pandemic has not helped B3’s cause. As a result, many of your neighborhood locations have begun closing their doors.
This year, the company will be closing more locations, especially those they deem as “underperforming.”
In 2020, the retail chain announced that it would be shutting 200 stores over the next two years. Fast forward to now, and they’ve closed 170 of those 200. According to CNBC, the company is on track to hit the 200 mark by year’s end.
Bed Bath & Beyond Chief Executive Officer Mark Tritton that the company is continuing to explore more closures.
“We are executing a full-scale transformation and simultaneously running a business in a highly unpredictable environment,” Tritton said during an earnings conference call.
Information from the call and the company’s announcement revealed that Bed Bath shares are down 24.5% over the past 12 months.
The company also owns Buy Buy Baby, and many of those locations have begun closing around the country.
Now, the aforementioned “highly unpredictable environment” would spring to mind the pandemic and supply chain shortages. And the coronavirus was cited as the reason in 2020 to close 200 locations.
But, could those severities have just been an easy out for a company that has yet to be fully equipped to the change in times?
Much like other retailers trying to compete with the likes of Amazon, the quality of products has gone down in an effort to increase their profit margins while still attracting customers. And, let’s get real, no one has ever been upset by receiving a 20% Bed Bath & Beyond coupon in the mail.
The pandemic and the issues with the supply chain have certainly not helped matters, but this was likely to still be the brick and mortar’s trajectory.
What are your thoughts on the closures?
Below are the 37 Bed Bath & Beyond locations slated to close early this year:
- 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
- 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: 14 B 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