Bed Bath & Beyond will shut 60 stores by the end of the 2019 fiscal year.
According to the news channel, the company announced the closures on Wednesday.
Interim CEO Mary Winston stated that with this action, they’re growing the profitability of the business remaining portfolio, and consider that their remaining fleet will benefit from the renewed concentrate on driving traffic and operating efficiency.
The company stated it’s going to shut about 40 Bed Bath & Beyond stores, and 20 stores from its other concepts.
It has been focused on priorities akin to turning around its business, “including stabilizing sales and driving top-line growth, resetting its cost structure, reviewing and optimizing its asset base, and refining its organization structure,” the News Channel reported.