Bed Bath & Beyond Is Closing 200 Locations
Bed Bath & Beyond (NASDAQ: BBBY) is getting serious about cutting costs. This week, the specialty retailer announced plans to reduce its store footprint in the wake of slumping sales and ballooning net losses.
The chain expects to close about 200 locations over the next two years, management revealed on Wednesday, as the biggest part of a restructuring move aimed at reducing annual costs by between $250 million and $350 million.
Most of the cuts will come from its core Bed Bath & Beyond franchise, which currently operates 955 locations across the U.S. and Canada.
Source Fool.com
