Bed Bath & Beyond will close approximately 40 stores

UNION, New Jersey – Bed Bath & Beyond has announced plans to close approximately 40 stores this year.

The company says however that it will also open about fifteen new sites.

The New Jersey-based home goods retailer said more stores will have to close unless it's able to negotiate more favorable rental terms with its owners.

Bed Bath & Beyond announced Wednesday a loss of $ 253.8 million in the fourth quarter, after recording a profit in the same period of the previous year.

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