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Bed Bath and Beyond to close 200 locations nationwide

Julio Cortez/AP

FILE- In this Oct. 25, 2017, file photo shoppers walk toward their vehicles outside of a Bed Bath & Beyond department store at Jersey Gardens Mall in Elizabeth, N.J. Bed Bath & Beyond's stock plunged to its lowest price in 18 years after the home goods store chain posted weak results in the second quarter and cut its forecasts for the rest of the year. The company’s profit fell by almost 50 percent compared to a year ago. (AP Photo/Julio Cortez, File)

By: Justin Boggs

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Bed Bath and Beyond said on Wednesday it plans on closing approximately 200 locations nationwide over the next two years.

The news comes after the company temporarily closed 90% of its locations nationwide during the coronavirus pandemic, which resulted in a 77% drop of in-store sales in the spring quarter of 2020.

Bed Bath and Beyond said the move to close 200 locations will right-size its real estate portfolio. The loss of 200 stores will result in a 15% reduction in the company's footprint.

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Bed Bath and Beyond to close 200 locations nationwide

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