Three more Bed Bath & Beyond locations are shuttering throughout the Bay Area, the home goods retailer confirmed in a statement to SFGATE on 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 closure dates would “vary by store” and that “store closing sales will commence and continue over the next few months.”
The Union, New Jersey-based brand announced last September that it would close 150 “lower-producing” stores and lay off 20% of its employees as part of a new plan for the business. Since then, two other stores in Larkspur and San Leandro have permanently closed.
On Tuesday, Bed Bath & Beyond reported a net loss of nearly $393 million in its fiscal third quarter, a 42% plunge from $276 million the previous year. Net sales had also decreased from $188 billion in 2021 to $126 million for the third quarter.
Customers leave a Bed, Bath & Beyond store on Aug. 31, 2022, in Larkspur. It's one of the Bay Area locations to recently close.
Justin Sullivan/Getty Images“At the beginning of the third quarter, we initiated a turnaround plan anchored on serving our loyal customers, following a period when our merchandise and strategy had veered away from their preferences,” Sue Gove, the president and CEO of Bed Bath & Beyond, said in the Tuesday statement. “Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals.
“We will continue to rebalance our assortment towards National Brands and refine our Owned Brands mix to reflect the deep understanding of our customer, along with the selection and value only we can offer in the Home and Baby markets. We are actively pursuing higher in-stock levels to meet proven demand.”
View the full list of nationwide closures from Bed Bath & Beyond.
SFGATE local editor Tessa McLean contributed to this report.
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