Bed Bath & Beyond closes 150 stores and cutts off staff to save company

Bed Bath & Beyond on Wednesday announced swift and significant steps it is taking to try to revive its struggling business, including layoffs, store closures and a shake-up of the brands on its shelves.

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The moves are urgently needed for the troubled retailer, which also disclosed Wednesday that slowing sales have carried into the most recent quarter. Same-store sales plummeted 26% for the three-month period ended Aug. 27 — an even steeper drop than the declines of recent quarters.

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Bed Bath's shares have been on a meme stock-fueled roller-coaster ride for months, rocketing up to $30.06 and falling to a low of $4.38 in the past year. As of Tuesday's close of $12.11, the shares are down about 17% year to date.

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Bed Bath & Beyond closes 150 stores and cutts off staff to save company

Bed Bath & Beyond on Wednesday announced swift and significant steps it is taking to try to revive its struggling business, including layoffs, store closures and a shake-up of the brands on its shelves.

Bed Bath & Beyond on Wednesday announced swift and significant steps it is taking to try to revive its struggling business, including layoffs, store closures and a shake-up of the brands on its shelves.

The moves are urgently needed for the troubled retailer, which also disclosed Wednesday that slowing sales have carried into the most recent quarter. Same-store sales plummeted 26% for the three-month period ended Aug. 27 — an even steeper drop than the declines of recent quarters.

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Bed Bath's shares have been on a meme stock-fueled roller-coaster ride for months, rocketing up to $30.06 and falling to a low of $4.38 in the past year. As of Tuesday's close of $12.11, the shares are down about 17% year to date.

Bed Bath's shares have been on a meme stock-fueled roller-coaster ride for months, rocketing up to $30.06 and falling to a low of $4.38 in the past year. As of Tuesday's close of $12.11, the shares are down about 17% year to date.

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