Bad News for Bed Bath & BeyondNewser — Polly Davis Doig
Bed Bath & Beyond is looking to shut 40 of its 1,024 stores amid slumping sales in an attempt to revitalize its struggling brand that includes opening 15 new "next-generation lab stores" that place what its CEO calls "a greater emphasis on home decor, food and beverage, and health and beauty care." As CNN reports, the company already has 21 such lab stores, which have posted sales that are 2.2% higher than traditional stores.
But as for the closures, USA Today reports that the company's CFO says that "this number will grow unless we are able to negotiate more favorable lease terms with our landlords." The company also operates Buy Buy Baby, Harmon Face Values, World Market, and the Christmas Tree Shops.
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This article originally appeared on Newser: Bad News for Bed Bath & Beyond