Three more Bed Bath & Beyond locations will be closing across the Bay Area, the homewares retailer confirmed in a statement to SFGATE Thursday — just a week after the company warned it may have to file for bankruptcy protection amid declining sales.
Locally impacted stores 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 spokesman for Bed Bath & Beyond told SFGATE that specific closing dates would “vary by store” and that “store closure sales are beginning and will 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 business plan. Since then, two other stores in Larkspur and San Leandro have closed permanently.
On Tuesday, Bed Bath & Beyond reported a net loss of nearly $393 million for the fiscal third quarter, down 42% from $276 million a year earlier. Net sales also declined to $126 million in the third quarter from $188 billion in 2021.
Customers exit a Bed, Bath & Beyond store in Larkspur on August 31, 2022. It’s one of the Bay Area locations that recently closed.
Justin Sullivan/Getty Images
“Early in the third quarter, we initiated a turnaround plan focused on serving our loyal customers after our merchandise and strategy diverged from their preferences,” said Sue Gove, President and CEO of Bed Bath & Beyond . according to Tuesday’s statement. “Although we have been quick and effective in changing assortment and other merchandising and marketing strategies, inventory has been limited and we have not met our goals.
“We will continue to align our range with national brands and refine our mix of own brands to reflect the deep understanding of our customers, along with the choice and value that only we can offer in the home and baby markets. We are actively seeking higher inventory levels to meet proven demand.”
View the full list of Bed Bath & Beyond nationwide closures.
SFGATE Local Editor Tessa McLean contributed to this report.