Bed Bath & Beyond Sales Sink, Will Close 150 Stores

  • Bed Bath & Beyond reported a loss in the third quarter on Tuesday but made no mention of shutting down the business, following a week of rumors swirling around a possible bankruptcy.
  • As part of the new plan, the retailer will close 150 of its locations by the end of fiscal 2022 and has also initiated incremental cost reductions of approximately $80 million to $100 million, including overhead expense and headcount. The company is now on track to deliver roughly $500 million in yearly savings.