Bed Bath and Beyond said on Wednesday it plans on closing approximately 200 locations nationwide over the next two years.
The news comes after the company temporarily closed 90% of its locations nationwide during the coronavirus pandemic, which resulted in a 77% drop of in-store sales in the spring quarter of 2020.
Bed Bath and Beyond said the move to close 200 locations will right-size its real estate portfolio. The loss of 200 stores will result in a 15% reduction in the company's footprint.
