Bed Bath & Beyond to Close 150 Stores, Layoff 20% of Employees Amid Financial Struggles

Mar. 15, 2025

Photo: John Greim/LightRocket via Getty

Bed Bath & Beyondannouncedit would shutter stores and lay off employees amid ongoing financial struggles.

According to the company’s press release, the retailer’s same-store sales are down approximately 26% compared to the same fiscal quarter last year.

The chain will also adjust its merchandising strategy. It plans to bring back popular national brands and introduce “new, emerging direct-to-consumer brands” in its stores. This marks a change in their recent strategy of launching more in-house owned brands.

“We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns,” the company’s Interim CEO Sue Gove said.

She continued, “In a short period of time, we have made significant changes and instituted enablers across our entire enterprise to regain our dominance as a preferred shopping destination for our customers' favorite brands and exciting products.”

The news came just days after an important investor sold a large stake in the company, according toCNN Business, which also reported that some Bed Bath & Beyond suppliers hadhalted shipmentsto the store because of unpaid bills.

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Bed Bath & Beyond previously closeda total of 40 locations nationwidein the first half of 2020.

“We’re continually evolving to serve our loyal Bed Bath & Beyond customers better — whether they come to us at one of our 900+ stores or are one of the millions who shop with us online each year,” a spokesperson said at the time.

In October 2020, the retail chain slowed down on its coupon model after analyzing recent shopping trends.

“Today, we have an over-reliance on the coupon,” Joe Hartsig, the then-chief merchandising officer told investors at the time, adding that the company came to the realization that about 40 percent of their promotions were “ineffective.”

source: people.com