Bed Bath & Beyond says that it will shutter stores and lay off workers in a bid to turn around its beleaguered business.
FILE - A Bed Bath & Beyond sign hangs outside the store on June 29, 2022 in Miami, Fla.
"There’s still an incredible degree of love for Bed Bath & Beyond," Mara Sirhal, the newly named brand president of Bed Bath & Beyond, toldanalysts Wednesday. "We must get back to our rightful place as the home-category destination, and our goal is to achieve this by leading with the products and brands our customers want."
Sirhal said the retailer wants to get back to being a place where shoppers find innovative items. For example, Bed Bath & Beyond was the first to bring items like the air fryer and the single-serve coffee maker to its customers, she said.
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