Bed Bath & Beyond will close and open stores this year.
New Jersey home-based retailer, which also operates Buy Buy Baby, Harmon Face Values and World Market, has announced mixed results during the fourth quarter to call financial analysts at this week.
"We look forward to opening about 15 new stores in fiscal 2019. It will be offset by a minimum of approximately 40 stores that we expect to close," Robyn D & # 39; Elia, chief financial officer and treasurer, told Wednesday's calls on earnings. "This number will grow unless we can negotiate more favorable lease terms with our landlords."
D & # 39; Elia said most of the "joint closure is for Bed Bath & Beyond stores."
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In the fourth quarter, the company opened three stores and closed 21 stores. The company has more than 1,500 stores in all its brands, which also includes Christmas Tree Shops.
Bed Bath & Beyond officials also talked about updates on some new initiatives, including "next generation lab stores." During the 2018 period, D & # 39; Elia said, "the company has started 21 next-generation lab stores, where we try new and varied assortments and visual merchandising to restore the in-store experience. "
Retail stores experienced higher sales, the company's Bed Bath & Beyond also operates Buy Buy Baby and World Market stores. Bed Bath & Beyond also operates Buy Buy Baby and World Market. (19659011) (19659011) (19659011) Photo: jeepersmedia / Flickr)
The year has been off on a rough start for all retails. Based on figures from the worldwide marketing research firm Coresight Research, bankruptcy filing and reports company revenue, more than 6,500 stores scheduled to close in 2019.
The brick-and-mortar downturn is expected to continue, according to The report was released this week from UBS Securities. Investors' analysts say that 75,000 more stores need to be shuttered by 2026 if e-commerce "penetration is rising from 16% currently to 25%."
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