The Tri-State’s TRUSTED news source.

Click here to stay informed and subscribe to Herald-Dispatch.

Click #isupportlocal for more information on supporting our local journalists.


Learn more about HD Media

Bed Bath & Beyond Strategic Update

Shoppers enter and exit a Bed Bath & Beyond in Schaumburg, Ill., on Jan. 14, 2021. Shares of Bed Bath & Beyond plunged in premarket trading Wednesday, Aug. 31, 2022, after the struggling home goods retailer announced a restructuring that includes store closures, layoffs and a stock offering. The company plans to close about 150 namesake stores but will keep its buybuy Baby chain.

NEW YORK — Bed Bath & Beyond said Wednesday it will shutter stores and lay off workers in a bid to turn around its beleaguered business.

The home goods retailer based in Union, New Jersey, said it will close about 150 of its namesake stores and slash its workforce by 20%. It estimated those cuts would save $250 million in the company’s current fiscal year. It also said it is considering selling more of its stock to shore up its finances and had lined up more than $500 million of new financing.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Recommended for you