At least five Bed Bath & Beyond locations across the Orlando area will close up shop as part of a “turnaround plan” that leaders hope will save the company from dissolution.
On Tuesday, February 7, the company updated its list of store closures to include at least five locations in and around Orlando:
397 North Alafaya Trail, Orlando
5295 International Drive, Suite 100, Orlando
2239 East Semoran Boulevard, Apopka
1115 Vidina Place, Suite 175, Oviedo
111 Towne Center Boulevard, Sanford
In total, the company has an “ultimate operating goal” to close approximately 360 store locations, “in addition to approximately 120 buybuy BABY stores,” across the United States, according to a press release issued this week.
“In response to evolving shopping preferences today, this target store base includes the Company’s most profitable locations and best geographic presence for customers that can enable an optimal omni-experience,” reads the statement.
The company expects to increase its digital sales to represent a “higher proportion of sales with improved channel profitability.”
“This transformative transaction will provide runway to execute our turnaround plan,” said Bed Bath & Beyond, Inc. President and CEO Sue Gove. “We are optimizing our store fleet and supply chain and continuing to invest in our omni-always capabilities. This will enable us to better serve our customers, and grow profitably, by directing merchandise where and how they want to shop with us.”