Bed Bath & Beyond plans to be closed and opening stores this year.
The New Jersey-based home goods retailer, which has bought Buy Baby, Harmon Face Values and World Market, announced mixed results during its fourth-quarter Calling for financial analysts this week.
"We expect to open approximately 15 new stores in fiscal 2019. This is a minimum of 40 stores we expect to close to," Robyn D'Elia, chief financial officer and treasurer , said during Wednesday's earnings call. [EliaEliasaid"MostoftheplannedclosuresareforBedBath&Beyondstores"
Store closings 201
In the fourth quarter, the company opened three stores and closed 21 stores. The company has more than 1,500 stores across all of its brands, which includes Christmas Tree Shops.
Bed Bath & Beyond officials also discussed updates on some new initiatives, including its "next generation lab stores." During 2018, D'Elia said, "the next 21st generation lab stores, in which we are testing new and different collections and visual merchandising to reimagine the in store experience."
Those stores higher sales, the company
Bed Bath & Beyond also operates Buy and Sell Baby Market. (Photo: jeepersmedia / Flickr)
The year has just begun. Coresight Research, bankruptcy filings and company earnings reports, more than 6,500 stores are closed to close in 2019.
The brick-and-mortar downturn is expected to continue, according to a Report released this week from UBS Securities. Investment bank analysts said 75,000 more stores would need to be shuttered by 2026 if e-commerce. "
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
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