Sept 1, 2022
BB&B Takes Steps To Revive Business
Bed Bath & Beyond is taking swift and significant steps to try to revive its struggling business. It has started closing about 150 of its "lower producing" namesake stores. It will also slash costs by shrinking head count by about 20 per cent across the corporate and supply chain workforce. The moves follow the disclosure on Wednesday that slowing sales have carried into the most recent quarter. Same-store sales plummeted 26 per cent for the three-month period ended August. 27 ‒ an even steeper drop than the declines of recent quarters.
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