READ THIS NEXT: These Popular Grocery Chains Are Closing Stores, Starting Nov. 11. Most companies trim locations here and there depending on the market. But this year, there have been a number of major retailers who have closed far more than one or two stores. CVS has also been closing store after store across the country since April of this year, as part of its plan to shutter 300 stores each year over the next three years. And those aren’t the only big-name companies to have done some major downsizing. In May, it was reported that roughly 100 Sears Hometown stores spread throughout 30 states would be permanently closed within weeks. Now, another popular retailer is taking an axe to a significant portion of its retail footprint. You might be saying goodbye to your local Bed Bath & Beyond store sometime before the end of the year. On Sept. 15, the popular home goods company released a list of 56 locations it will be closing soon. The closures are spread across the country and affect more than 20 states, including Arizona, Connecticut, Florida, Georgia, and Texas. But two states will bear the brunt of the permanent shutdowns: California is losing eight Bed Bath & Beyond Stores, and Illinois will lose six locations.ae0fcc31ae342fd3a1346ebb1f342fcb According to Bloomberg, these stores are set to be shuttered in the coming weeks. “We will continue to review our portfolio where it makes sense to profitably support our customers and business,” company spokeswoman Julie Strider told the news outlet. “Our immediate focus is on supporting our teams, growing the business, making sure our stores, customers and partners are supported and improving returns to shareholders.” RELATED: For more up-to-date information, sign up for our daily newsletter. This is just the first round of closures for this popular retail chain. On Aug. 31, Bed Bath & Beyond announced that it would be closing a total of approximately 150 “lower-producing” stores across the U.S. In that same announcement, the company also said that it would be laying off roughly 20 percent of its workforce. The 56 Bed Beth & Beyond stores recently identified will start closing soon “and continue over the next few months,” the company told CBS MoneyWatch. It didn’t disclose when it would announce the exact locations for the remaining roughly 100 stores, but the retailer told CNN that “all currently planned store closings have been announced.” Bed Bath & Beyond Inc. operated a total of 955 stores as of May 2022, according to USA Today. This included 769 Bed Bath & Beyond stores, 135 buybuy Baby stores, and 51 stores under the names Harmon, Harmon Face Values, and Face Values. As of February, it had around 32,000 employees. Bed Bath & Beyond’s store closures are “part of the struggling retailer’s last-ditch effort to stabilize as it struggles in financial turmoil,” CNN explained. According to its August earnings report, the company’s sales at stores open for at least one year had fallen by a significant 26 percent during its latest quarter. The cuts planned for its retail footprint and workforce will save the company an estimated $250 million for the current fiscal year, according to USA Today. “There’s still an incredible degree of love for Bed Bath & Beyond,” Mara Sirhal, the newly named brand president of Bed Bath & Beyond, told industry analysts on Aug. 31. “We must get back to our rightful place as the home-category destination, and our goal is to achieve this by leading with the products and brands our customers want.”
