Advertisement

Bed Bath & Beyond to Close 37 Stores, Launch New Private Label items at buybuy BABY

Bed Bath & Beyond has released a list of 37 stores slated for closure in 2022 as it approaches completion of its 2020 plan to shutter 200 underperforming locations. The affected shops are located across 19 states, including seven in New York, five in California and four in Washington.

The retailer reported a loss of $276.4 million in Q3 2021, with year-over-year comparable sales down 7% to $1.9 billion. The decline was attributed to a “lack of availability with replenishment inventory and supply chain stresses that had an estimated $100 million, or mid-single digit, impact on the quarter and an even higher impact in December,” said CEO Mark Tritton on a call with investors.

Supply chain challenges also hit Bed Bath & Beyond in another area: paper. The retailer partially attributed low traffic levels to reduced circulation of its circular. “A disproportionate amount of our sales are generated from our circular at stores and are a key trip driver,” said Tritton. “While we were able to activate additional plans for distribution in October, paper supply and labor issues with print vendors impeded our ability to reach full scale circulation.”

Despite the challenges of the quarter, Bed Bath & Beyond reported success with its private label strategy and plans to expand its efforts into creating owned brands for buybuy BABY.

Advertisement

“The penetration is very low in buybuy BABY,” said Tritton. “And it has a predominantly national brand and good national brand business, as well as discretionary label business. There is an opportunity there in key areas like apparel, nursery furniture and across the board in the business to create a multifaceted owned brand program.”

Q3 2021 was positive for buybuy Baby in general, with sales growth in the mid-teens — the banner’s fourth straight quarterly increase — even as its parent company struggled. The new private label items are expected to launch in the second half of 2022.

Featured Event

View the Retail Trendcaster Webinar Series on-demand to uncover key 2025 retail trends, from AI and personalization to social commerce. Gain expert insights, data-driven predictions, and actionable takeaways to stay ahead in a rapidly evolving market.

Advertisement

Advertisement

Retail Trendcaster Webinar Series
Days
Hours
Minutes
Seconds

Uncovering What’s Next in Retail

On-Demand Limited Video Series

Q1 is a pivotal time for retail, with experts analyzing holiday sales and forecasting trends. View the full lineup of the Retail Trendcaster video series for insights on consumer spending, AI, personalization, social commerce, and more—helping you focus on what truly matters in 2025.

Brought to you by
Retail TouchPoints
Access Now
Retail TouchPoints is a brand of Emerald X LLC. By clicking the button and submitting information, you acknowledge and agree that your information may be shared with corporate affiliates of Emerald X LLC, and other organizations such as event hosts, speakers, sponsors, and partners. Please read our Privacy Policy and our Terms Of Use for more information on our policies.

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: