SIOUX FALLS, S.D. (KELO.com) — Retailer Bed Bath and Beyond announced that it will close 40 more stores after the Christmas season.
Some national media outlets have reported that the parent company may close a total of 60 stores, 40 of which are Bed Bath and Beyond and 20 from other store brands in its portfolio.
The company’s Sioux Falls store is at the Empire East mall on Louise Avenue.
KELO.com News has asked the company if the Sioux Falls store is on the closure list.
Their spokesperson, Leah Cascarano, provided KELO.com News with the following statement:
- As part of Bed Bath & Beyond’s transformation efforts, the Company is prioritizing efforts to deliver the shopping experience its customers want, which includes near-term store improvements, while also evaluating the store fleet to create a better balance between our physical and digital presence within the markets it serves. We have completed our initial assessment with a fleet optimization program for all Bed Bath & Beyond stores, which has resulted in the decision to close approximately 60 total stores in fiscal 2019, including approximately 40 Bed Bath & Beyond stores and 20 other concept stores. We are not providing any further details of these store closings at this time.
- PREVIOUS COVERAGE: Bed Bath & Beyond cuts 7% of corporate staff, including COO
- PREVIOUS COVERAGE: Bed Bath & Beyond forecasts 2019 profit ahead of estimates, shares jump
In a news release yesterday, the company reported the following about its second-quarter 2019 results.
- Mary A. Winston, Interim CEO, stated, “We are making good progress against our four key near-term priorities, including: (1) stabilizing sales and driving top-line growth; (2) resetting the cost structure; (3) reviewing and optimizing the Company’s asset base, including the portfolio of retail banners; and (4) refining our organization structure. Our second-quarter financial results reflect the relentless effort of our teams and our progress in driving the Company’s transformation efforts to delight our customers, enhance our competitive position, improve our financial performance, and drive shareholder value.”
