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Business

Bed Bath & Beyond says 3 more Bay Area stores to close




Three more Bed Bath & Beyond locations are closing throughout the Bay Area, the home goods retailer confirmed in a statement to SFGATE Thursday — just a week after the company warned it may have to file for bankruptcy protection amid declining sales.

Stores affected locally include the San Jose location at 5353 Almaden Expressway, the Antioch location at 5719 Lone Tree Way, and the Vallejo location at 105 Plaza Drive. A spokesperson for Bed Bath & Beyond told SFGATE that specific closing dates will “vary by store” and that “store sales will begin and continue over the next several months.”

The Union, New Jersey-based brand announced last September that it would close 1[ads1]50 “lower-performing” stores and lay off 20% of its employees as part of a new business plan. Since then, two other stores in Larkspur and San Leandro have closed permanently.

On Tuesday, Bed Bath & Beyond reported a net loss of nearly $393 million in the third quarter, down 42% from $276 million a year earlier. Net sales had also declined from $188 billion in 2021 to $126 million for the third quarter.

Bed Bath & Beyond says 3 more Bay Area stores to close

Customers leave a Bed, Bath & Beyond store on Aug. 31, 2022, in Larkspur. It’s one of the Bay Area locations that has recently closed.

Justin Sullivan/Getty Images

“At the beginning of the third quarter, we initiated a turnaround plan focused on serving our loyal customers, after a period when our products and strategy had drifted away from their preferences,” Sue Gove, president and CEO of Bed Bath & Beyond, said in Tuesday’s statement. “Although we moved quickly and efficiently to change our assortment and other sales and marketing strategies, inventory was limited and we did not meet our goals.

“We will continue to rebalance our assortment towards national brands and refine our Own Brand mix to reflect the deep understanding of our customers, along with the selection and value only we can offer in the home and baby markets. We are actively pursuing higher inventory levels to meet proven demand.”

See the full list of nationwide closures from Bed Bath & Beyond.

SFGATE local editor Tessa McLean contributed to this report.





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