Changes are coming to Bed Bath & Beyond. The retailer recently released the results from its fiscal fourth quarter 2018 report and it looks like the company’s future includes both beginnings and endings.
According to an earnings call, following the release of the 2018 report, chief financial officer and treasurer, Robyn D’Elia, the company plans on opening 15 new stores in 2019 and closing 40. But, D’Elia noted, the number of closures may increase if the company is unable to negotiate “favorable lease terms” with its retailers’ landlords.
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The openings and closures may affect more than just the company’s Bed Bath & Beyond properties. Even though the home product giant will take the brunt of the closings, the company may also shutter some of its other properties, including Buy Buy Baby, Harmon Face Values and World Market. As of now there’s no word on which stores will close and when. Likewise, the company is yet to reveal details on retail openings.
Along with opening/closing stores, Bed Bath & Beyond also announced goals to enhance in-store customer experiences by using lessons learned from its Next Generation Lab stores, enhancing online shopping experiences and helping customers to get the right values for their most-needed products.
Featured photo: Mike Mozart via Flickr