Bed Bath & Beyond closes Pocatello store
Bed Bath & Beyond Inc. (BB&B) promised in its 2020 first quarter earnings report in July 2020 that it would close approximately 200 stores over the next two years. The chain has kept that promise. As part of that staggered 200-store shutdown, BB&B announced on January 6 that the Pocatello store would be one of 37 that would close immediately after a liquidation sale.
The Pocatello store closure can be considered a post-retail apocalypse closure. BB&B has been hard at work for the last two years to shed less-profitable brick-and-mortar locations and expand its e-commerce platform. The firm had 955 Bed Bath & Beyond branded stores in July 2020. Its BB&B-branded store count on Jan. 6 was 809. These store counts do not include any of the chain’s Buy Buy Baby, Cost Plus or World Market branded stores.
At the same time, BB&B is currently remodeling 450 stores, close to half of its locations, at a cost of $250 million. In contrast, last quarter (Q3 2021) the firm closed four BB&B-branded stores and opened one BB&B store.
Other than the Pocatello location, BB&B has six other locations in Idaho: Boise, Coeur d’Alene, Idaho Falls, Meridian, Moscow, and Twin Falls.