Bed Bath & Beyond will close and open stores this year.
New Jersey household goods retailer, who also manages Buy Buy Baby, Harmon Face Values and the World Market, announced mixed results during its fourth quarter
"We expect to open about 15 new stores in fiscal 2019 This will be offset by at least about 40 stores that we expect to close, "said Robin D & # 39; Elias, Chief Financial Officer and Treasurer, said during a salary call on Wednesday. "This number will increase if we can not agree on more favorable rental conditions with our landlords."
D & # 39; Eliya stated that most of the "foreclosed closets for stores" Bed Bath & Beyond. "
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In the fourth In the quarter, the company opened three stores and closed 21 stores.The company has over 1500 stores in all its brands, which also include Christmas tree stores.
Representatives of Bed Bath & Beyond The company discussed the renewal of some new initiatives, including "next-generation laboratories." During 2018, D & # 39; Elia said the company "initiated 21 next-generation labs in which we test new and different assortments and visual merchandising to rethink experience." store. "
Bed & Beyond also works in" Buy a child and the world market "stores. (Photo: jeepersmedia / Flickr)
A year began for all retail trades. Based on data from Coresight Research's global marketing company, bankruptcy reports and earnings reports, more than 6,500 stores are scheduled to close in 2019.
t Report released this week by UBS Securities. Analysts of the investment bank reported that another 20 thousand Shops will need to be closed by 2026, if the electronic commercial "penetration will increase from 16% to 25%."
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