Is Bed Bath & Beyond In Hamilton Marketplace Closing?
Earlier this week, CNN reported that due to declining sales, Bed Beyond & Beyond will be closing 40 or more locations this year.
The home goods chain has several locations in the area, including stores in Hamilton Marketplace and Mercer Mall and while there is currently no word on what locations will be closing, CNN says that the company also plans on opening about 15 new stores. Decisions on which locations to close will be based on lease terms.
New "next-generation lab" Bed Bath & Beyond stores have started popping up. On an investor's call, Bed Bath & Beyond CEO, Steven Temares, said the lab stores have "a greater emphasis on home decor, food and beverage, and health and beauty care."
CNN says that sales in the lab stores "were 2.2% higher than comparable Bed Bath & Beyond stores over the past four weeks."
Bed Bath & Beyond was found in 1971 and in addition to its flagship stores, the company also operates Christmas Tree Shops, buybuy BABY, World Marke, and several other stores.