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  • Writer's pictureDeep Dive

Bed, Bath & Beyond to close 200 stores over the next 2 years

  • As with most other non-essential retailers during COVID-19, BBB is expected to close 20% of stores in the next 2 years to save on operating costs

  • The company expects to save upwards of $350 million from these store closures while they focus on expanding curbside and BOPIS capabilities as well as digital strategies

  • Prior to announcing store closures, the company was also working on selling off some of their non-core assets such as One Kings Lane and, with pressures from investors to sell off more

  • Now that stores are able to open back up, there has been an uptick in brick-and-mortar sales, but not enough to compete with pre-pandemic levels

  • "With improving operating performance, inventory reduction opportunities remaining, potential asset sales outstanding ... as well as what we estimate to be ~$200m in additional real-estate, we remain comfortable with BBBY's liquidity position,"


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