The Bed Bath & Beyond closures come as part of a broader plan to trim an expansive and expensive real estate portfolio, and invest more heavily in digital sales. According to CNBC, the company’s executives believe that downsizing will “generate annual cost savings of between $250 million and $350 million, excluding related one-time expenses.” The 200 stores slated to close reportedly brought in roughly $1 billion in annual net sales in the 2019 fiscal year, meaning the company will need to reroute a portion of those dollars to online sales or remaining stores, which may come as a challenge. While Bed Bath & Beyond’s digital sales rose 77 percent during the pandemic, the company has also more recently taken a hit in trading. On Thursday, Jan. 7, reports swirled about the company’s falling stocks, which were down more than 13 percent in premarket trading. This came after leadership announced a five percent decline in sales for their third quarter, due largely to planned store closures and the sale of other assets like Cost Plus World Market. Representatives also acknowledged that “fourth-quarter sales are expected to be lower than a year earlier by a double-digit percentage,” according to CNBC. The Bed Bath & Beyond branches that are closing next—by Feb. 2021, to be exact—are located in 19 states and Puerto Rico. Read on to see if your store is shutting down, and for another chain that’s shrinking, check out This Legendary Chain Is Closing Over 1,000 Stores by March. Read the original article on Best Life. Conway: 1272 South Amity Road Peoria: 24760 N. Lake Pleasant Parkway El Cerrito: 6000 El Cerrito Plaza Gilroy: 6725 Camino Arroyo Mountain View: 2470 Charleston Road Northridge: 8959 Tampa Ave. Riverside: Canyon Springs Marketplace, 2660 Canyon Springs Parkway San Mateo: 2280 Bridgepoint Parkway Simi Valley: 2631 Tapo Canyon Road Turlock: 2851 Countryside Drive Yuba City: Yuba City Marketplace, 1060 Harter Road And for a couple of bigger chains that are suffering, check out These 2 Beloved Department Stores Are “Slowly, Quietly Dying.” Boulder: 1741 28th St. Colorado Springs: 5944 Barnes Road Lone Tree: Meadows Marketplace, 8467 South Yosemite East Fort Myers: 3248 Forum Blvd. Estero: Coconut Point Shopping Center, 8020 Mediterranean Drive Miami: 12010 N Kendall Drive Port Richey: Embassy Crossings, 9642 U.S Highway 19N And for another closure that marks the end of an era, check out This Beloved Brand Is Closing All But 2 of Its U.S. Stores. Fayetteville: 123 Pavilion Parkway Kokomo: 1411 S. Reed Road Slidell: 127 Northshore Blvd. Baltimore: 5210 Campbell Blvd. Holyoke: The Holyoke Crossing, 39 Holyoke St. Saugus: 367 Broadway Wyoming: 4830 Wilson Avenue SW Coon Rapids: 12773 Riverdale Blvd. Lawrenceville: 101-B Mercer Mall, 3371 US Highway 1 New York City: 410 East 61st St. Manhasset: 2103 Northern Blvd. Greece: 112 Greece Ridge Center Drive And for more store closures to be aware of, sign up for our daily newsletter. Cincinnati: 650-F Eastgate South Driveae0fcc31ae342fd3a1346ebb1f342fcb Medina: 4949 Grande Shops Ave. Stow: 4290 Kent Road Warrensville Heights: 4031 Richmond Road Pittsburgh: Waterworks Shopping Center, 980 Freeport Road Swarthmore: 857 Baltimore Pike And for more big name closures, check out This Iconic Clothing Chain Is Closing Its Biggest Stores. Canovanillas, Carolina: Los Colobos II Shopping Center, State Road #3 Km 14.1 Cleveland: 4540 Frontage Road NW American Fork: 773 W. Grassland Drive Fairfax: 9666 Main St. Glen Allen: 9900 Brook Road Virginia Beach: 3312 Princess Anne Road Waynesboro: 821-D Town Center Drive
