2 Bed Bath & Beyond Stores Shuttering In Arizona As Part Of Nationwide Closings

ARIZONA — Two Bed Bath & Beyond stores in Arizona are among 56 nationwide identified for closure by the company, which last month said it would eventually shutter 150 locations and cut 20 percent of its workforce in an attempt to turn around the struggling home goods retailer.

Included on a recently updated list of stores slated to close are the Tucson location at 5225 S. Calle Santa Cruz and the Phoenix location at 34750 at N. North Valley Parkway.

The closures will include “lower producing” banner namesake stores, and layoffs will be across corporate and supply chain staff, the company said in late August.

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Sluggish sales carried into the third quarter, the company said, with in-store sales dropping by 26 percent for the three-month period ending Aug. 27, compared with the same period in 2021 — the steepest drop in sales the chain had seen in years.

The company said it received $500 million in new financing to shore up its business model before the fourth-quarter holiday shopping season. Plans include returning national brands to store shelves, a strategy interim CEO Sue Gove said is intended to make the company once again “a preferred shopping destination.”

“We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns,” Gove said in a company news release. “The customer underpins our decisions, and we are committed to delivering what they want while driving growth, profitability, and financial returns.”