ANOTHER retailer has announced it is closing multiple stores as financial issues continue to plague the retail industry.
Bed Bath & Beyond has been a staple in the home goods industry for years, but now it's making a mad dash to reallocate funds and keep things going.
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Earlier this month the company announced it was running out of cash and considering bankruptcy.
However, this morning on a conference call discussing the 2022 third-quarter results there was no mention of taking that avenue specifically, but "multiple paths are being explored."
Sue Gove, president and CEO of Bed Bath & Beyond Inc. said the company is looking at $80million to $100million in savings through store closures and other tactics "including overhead expense and headcount."
This comes as BB&B's most recent financial quarter showed substantially lower earnings than what was expected.
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WHAT CHANGED
The company saw a drop in customer traffic and inventory.
This resulted in a 33 percent decline in third-quarter sales, wrapping up with $1.259billion in net sales.
That only added to the almost $1.2billion of debt BB&B is facing.
Now it is slated to complete 150 store closures by the end of the 2022 fiscal year, which is February 28, 2023.
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Stores that are still open are facing low stock as the company struggles to get enough merchandise onto shelves.
When the shelves start filling up again they'll look a bit different.
Gove announced the company is looking to "rebalance" its assortment toward national brands and "refine" its inventory of owned brands.
What stores are closing
There are 769 BB&B locations spanning all 50 states.
These are the locations slated to close.
Alabama
- Florence: 356A Cox Creek Parkway
Arizona
- Mesa: 2039 N. Power Road
- Phoenix: 34750 N. North Valley Parkway
- Tucson: 5225 South Calle Santa Cruz
- Tuscon: 7475 North La Cholla Blvd
California
- Antioch: 5719 Lone Tree Way
- Buena Park: 8390 On The Mall #237
- Burbank: 201 East Magnolia Blvd.
- Chula Vista: 394 East H Street
- La Habra: 1320 South Beach Blvd.
- Lakewood: 75 Lakewood Center Mall
- Larkspur: 2601 Larkspur Landing Circle
- Marina: 117 General Stilwell Drive
- Palmdale: 39421 10th Street West
- Redding: 1140 Hilltop Drive
- Sacramento: 3611 N. Freeway Blvd.
- San Jose: 5353 Almaden Expressway, Suite A-200
- San Leandro: 15555 East 14th Street, Suite 240
- Santee: 9918 Mission Gorge Road
- Valencia: Valencia Marketplace, 25540 The Old Road
Connecticut
- Hamden: 2045 Dixwell Avenue
- Stamford: Ridgeway Shopping Center, 2275 Summer Street
- Waterford: 850 Hartford Turnpike
Delaware
- Wilmington: Brandywine Town Ctr, 1020 Brandywine Pky
Florida
- Sanford: 111 Towne Center Blvd.
- Sunrise: 12801 W. Sunrise Blvd., Anchor
- Orlando: 5295 International Drive, Suite 100
- Oviedo: 1115 Vidina Place Suite 175
Georgia
- Snellville: Presidential Market Center, 1905 Scenic Hwy Suite 5000
- Suwanee: 2623 Peachtree Pkwy
Illinois
- Bourbonnais: 2056 North State Route 50
- Carbondale: University Mall, 1265 E. Main Street
- Champaign: Market View Shopping Center, 63 E. Marketview Dr.
- Fairview Heights: Fairview Center, 6611 N. Illinois
- Gurnee: 6132 Grand Ave., Gurnee Mills Mall
- Joliet: 2850 Plainfield Road
- Schaumburg: 915 East Golf Road
Indiana
- Avon: 10350 East US Highway 36
Iowa
- Dubuque: 2475 N.W. Arterial
- Waterloo: 1522 Flammang Drive
Kansas
- Lawrence: 3106 S. Iowa Street, Suite 215
Kentucky
- Elizabethtown: 1998 N. Dixie Avenue
Louisiana
- Bossier City: 2900 Meadow Creek Drive
Maryland
- Bel Aire: 559 Baltimore Pike
Massachusetts
- Dorchester: 8B Allstate Road, Suite 1
- Milford: 230 Fortune Boulevard
- Seekonk: 35 Highland Avenue
Michigan
- Ann Arbor: 3645 Washtenaw Avenue
- Auburn Hills: 4780 Baldwin Rd.
- Brighton: 8467 W. Grand River
- Chesterfield: 50551 Waterside Drive
- Farmington Hills: 31075 Orchard Lake Road
- Lansing: 5845 W. Saginaw Highway
- Muskegon: 5540 Harvey Street
- Northville: Northville Retail Center, 17223 Haggerty Road
- Walker: Green Ridge Square, 3410 Alpine Avenue NW
- White Lake Twp.: 9050 Highland Road
Minnesota
- St. Cloud: 3959 Second Street South
New Hampshire
- Keene: 32 Ash Brook Road
New Jersey
- Flanders: 30 International Drive, Suite 1
- Manalapan: 13 Route 9 South
- Paramus: 34 E Ridgewood Ave
New York
- Farmingdale: 251 Airport Plaza Blvd.
- Kingston: 1187 Ulster Avenue
- Middletown: 470 Route 211 East, Suite 3
- Mt. Vernon: 500 East Sandford Blvd.
- New Hartford: 4805 Commercial Drive
- Plattsburgh: 73 Centre Drive, Suite 100
Nevada
- Carson City: 911 Topsy Lane, Suite 104
- Sparks: 195 Los Altos Pkwy
North Carolina
- Charlotte: The Arboretum, 3413 Pineville-Matthews Road
Ohio
- Cincinnati: 3681 Stone Creek Blvd.
- Hamilton: Bridgewater Falls, 3451 Princeton Road
- Perrysburg: 10027 Fremont Pike
- Sandusky: 4020 Milan Road Unit# 910
Oregon
- Beaverton: 2780 SW Cedar Hills Blvd.
Pennsylvania
- Erie: 6720 Peach Street, Suite A
- Wynnewood: 70 E. Wynnewood Boulevard
South Carolina
- Columbia: 10136 Two Notch Road, Suite 109
- Florence: 2853 David H McLeod Blvd, Suite C
Texas
- Port Arthur: Central Mall 3100 Highway 365 Suite 114
- Wichita Falls: 3201 Lawrence Road Suite A
Virginia
- Christiansburg: 135 Shoppers Way NW
- Leesburg: 532 Fort Evans Road
- Lynchburg: 4026-N Wards Road
Washington
- Lakewood: 5830 Lakewood Towne Center Blvd., S.W.
Wisconsin
- Mequon: 11110 N. Port Washington Road
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Stay up to date with a timeline of the details for stores that are closing.
And see which other beloved retailer is facing hard choices as they consider closing shop.
