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Bed Bath & Beyond is closing around 150 stores as it attempts to cut costs.Joe Raedle/Getty Images Bed Bath & Beyond is closing around 150 stores and laying off staff. Sales in the second quarter slumped roughly 26%, and it is aggressively cutting costs. It has now named 56 of the stores set to how to fix broken mattress spring
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close across 21 states. The list can be seen below Bed Bath & Beyond is closing around 150 "lower-producing" stores across the US as it attempts to cut costs amid slumping sales, it announced in late August. The retailer also said it plans to cut around 20% of corporate and supply-chain staff. By laying off staff and closing the stores, the company said it planned to reduce costs by $250 million in 2022. Sales in the second quarter had slumped roughly 26% compared to the same period in 2021, Bed Bath &
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Beyond said in preliminary earning results. Just days after the company made the announcement, then-CFO Gustavo Arnal died by suicide in New York, the city's medical examiner said. Sources told The Wall Street Journal that Arnal had discussed taking a break and that the company's CEO and several board members agreed that Arnal had been overwhelmed. Shortly before his death, Arnal, Bed Bath & Beyond, JPMorgan, and activist investor Ryan Cohen, and JPMorgan were named in a class-action lawsuit accusing them of securities fraud, insider trading, and breach of fiduciary duty. Bed Bath &
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Beyond has since appointed Laura Crossen as interim CFO. The chain had already replaced its CEO in June after reporting disappointing sales. The struggling retailer has now revealed the location of 56 of the stores being closed, spanning 21 states and Puerto Rico. Eight are in California and six are in Illinois. Some are in standalone stores, while others are located in malls. Here's the full list so far.Arizona Phoenix: 34750 N. North Valley Parkway, 85086 Tucson: 5225 South Calle, Santa Cruz, 85706California Burbank: 201 East Magnolia Blvd., 91501 Lakewood: 75 Lakewood
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Center Mall, 90712 Larkspur: 2601 Larkspur Landing Circle, 94939 Story continues Marina: 117 General Stilwell Drive, 93933 Palmdale: 39421 10th Street West, 93551 Redding: 1140 Hilltop Drive, 96003 San Leandro: 15555 East 14th Street, Suite 240, 94578 Santee: 9918 Mission Gorge Road, 92071Connecticut Stamford: Ridgeway Shopping Center, 2275 Summer Street, 06905 Waterford: 850 Hartford Turnpike, 06385Florida Sanford: 111 Towne Center Blvd., 32771 Sunrise: 12801 W. Sunrise Blvd., Anchor C, 33323Georgia Snellville: Presidential Market Center, Suite 5000, 1905 Scenic Hwy, 30078 Suwanee: 2623 Peachtree Pkwy, 30024Iowa Dubuque: 2475 NW Arterial, 52002 Waterloo: 1522
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Flammang Drive, 50702Illinois Bourbonnais: 2056 North State Route 50, 60914 Carbondale: Carbondale University Mall, 1265 E. Main Street, 62901 Fairview Heights: Fairview Center, 6611 N. Illinois, 62208 Gurnee: Gurnee Mills Mall, 6132 Grand Ave, 60031 Joliet: 2850 Plainfield Road, 60435 Schaumburg: 915 East Golf Road, 60173Louisiana Bossier City: 2900 Meadow Creek Drive, 71111Massachusetts Dorchester: 8B Allstate Road, Suite 1, 02125 Milford: 230 Fortune Boulevard, 01757 Seekonk: 35 Highland Avenue, 02771Michigan Chesterfield: 50551 Waterside Drive, 48051 Farmington Hills: 31075 Orchard Lake Road, 48334 Northville: Northville Retail Center, 17223 Haggerty Rd., 48167 Walker: Green
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Ridge Square, 3410 Alpine Avenue NW, 49544 White Lake Twp: 9050 Highland Road, 48386Minnesota St. Cloud: 3959 Second Street South, 56301North Carolina Charlotte: The Arboretum, 3413 Pineville-Matthews Rd., 28226New Jersey Flanders: 30 International Drive, Suite 1, 07836 Manalapan: 13 Route 9 South, 07726 Paramus: 34 E Ridgewood Ave, 07652Nevada Sparks: 195 Los Altos Pkwy, 89436New York Farmingdale: 251 Airport Plaza Blvd., 11735 Middletown: 470 Route 211 East, Suite 3, 10940 Mt. Vernon: 500 East Sandford Blvd., 10550 New Hartford: 4805 Commercial Drive, 13413 Plattsburgh: 73 Centre Drive, Suite 100, 12901Ohio Cincinnati: 3681
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Stone Creek Blvd., 45251 Hamilton: Bridgewater Falls, 3451 Princeton Road, 45011 Perrysburg: 10027 Fremont Pike, 43551 Sandusky: 4020 Milan Road, Unit 910, 44870Oregon Beaverton: 2780 SW Cedar Hills Blvd., 97005Pennsylvania Wynnewood: 70 E. Wynnewood Blvd., 19096Puerto Rico Bayamon: Plaza Del Sol, 725 West Main Avenue, 00961Texas Port Arthur: Central Mall, 3100 Highway 365, Suite 114, 77642 Wichita Falls: 3201 Lawrence Road, Suite A, 76308Virginia Christiansburg: 135 Shoppers Way NW, 24073 Leesburg: 532 Fort Evans Road, 20176Washington Lakewood: 5830 Lakewood Towne Center Blvd, S.W., 98499 Read the original article on Business Insider
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