The retailer — which also operates buybuy Baby stores and Harmon — will close 62 Bed Bath & Beyonds in addition to the 56 stores announced in September, bringing to total of store closings to 120.
Georgetown Professor Nada Eissa explains why she believes the Fed’s actions to get inflation under control will likely lead to a recession.Bed Bath & Beyond announced another round of store closures affecting 30 states.Buybuy Baby stores and Harmon, both owned by the retailer, were also included on the list.Tuesday that it will shutter hundreds of stores amid talks of filing for bankruptcy protection.
The retailer — which also operates buybuy Baby stores and Harmon — will close 62 Bed Bath & Beyonds in addition to thewere also named on the company's list and liquidation sales are underway.The company said it was on track to cut $500 million in costs in its third-quarter fiscal report, which revealed a net sales decline of 33% to $1.26 billion over the prior year on $393 million in losses.
The decline in net sales versus last year was driven by"lower customer traffic and reduced levels of inventory availability, among other factors," the company said in a public The retailer expressed uncertainty of its fate, adding that the company faces"substantial doubt" about its ability to continue operating on its own.
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