Will Bed Bath & Beyond go out of business?
Retail industry watcher Michael Zakkour discusses Bed Bath & Beyond’s huge dip in the markets and how retail can keep up with competitors in coming years.
Bed Bath & Beyond has unveiled the first batch of more than 60 locations that it plans to close as part of its restructuring effort due to the coronavirus pandemic.
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The list closures, which was first reported by USA Today, covers approximately 63 stores within 29 states, all of which will close by year's end. However, California and New York will face the most closures, with each state losing about six stores each, USA Today reported.
BED BATH & BEYOND TO CLOSE OVER 200 STORES AMID CORONAVIRUS
Earlier this summer, the retailer disclosed that it would be shuttering more than 200 stores over the next two years as it tries to weather the pandemic. Officials said the move would save the company between $250 million and $350 million annually, excluding related one-time costs.
To offset losses even further, the company announced in August that it would be cutting approximately 2,800 jobs, which is estimated to generate future annual pre-tax cost savings of approximately $150 million, excluding one-time costs and a portion for reinvestment.
Representatives for Bed Bath & Beyond have not immediately responded to FOX Business' requests regarding its first batch of closures.
Below are the 63 stores slated to close by the end of 2020, as reported by USA Today.
BED, BATH & BEYOND TO CUT 2,800 JOBS
- Birmingham: 1640 Gadsden Highway
- Alabaster: 300 Colonial Promenade Parkway
- Phoenix: 10845 North Tatum Blvd.
- City of Industry: 21640 Valley Blvd.
- Fremont: 39125 Fremont Hub
- Mira Loma: 6365 Pats Ranch Road
- Paso Robles: 2449 Golden Hill Road
- Stockton: 10822 Trinity Parkway
- Victorville: 12410 Amargosa Road
- Aurora: 23901 E. Orchard Road
- Greeley: 4735 29th St.
- Danbury: 13 Sugar Hollow Road
- Farmington: 1603 Southeast Road
- Milford: 1212 Boston Post Road
- Torrington: 1914 East Main St.
- Casselberry: 5803 S US Highway 17/92
- Pembroke Pines: 11470 Pines Blvd.
- Port St. Lucie: 10856 SW Village Parkway
- Douglasville: 6680 Douglas Blvd.
- Bolingbrook: 734 East Boughton Road
- Chicago: 2838 North Broadway
- DeKalb: 2530 Sycamore Road
- Orland Park: 203 Orland Park Place
- Bloomington: 280 N. Gates Drive
- Indianapolis: 6010 West 86th St.
- Indianapolis: 8655 N. River Crossing Blvd.
- Merrillville: 2520 East 79th Ave.
- Lexington: 3220 Nicholasville Road
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- Harvey: 901 Manhattan Blvd.
- Auburn: 730 Center St.
- Gaithersburg: 558 N. Frederick Ave.
- Hanover: 7000 Arundel Mills Circle
- Salisbury: 2653 N. Salisbury Blvd.
- Allen Park: 3180 Fairlane Drive
- Kansas City: 8520 North Evanston Ave.
- Lincoln: 5040 N. 27th Street
- Howell: 4075 Route 9
- Rockaway: 202 Enterprise Drive
- Flushing: 40-24 College Point Blvd.
- New York: 410 E. 61st St.
- Rochester: 3349 Monroe Ave.
- Staten Island: 2700 Veterans Road West
- Syracuse: 3597 W Genesee St.
- Watertown: 21855 Towne Center Drive
FOX Business' Lucas Manfredi contributed to this report.
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