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Bed Bath & Beyond will close 40 stores and open another 15, announced Sunday.
CNN said the new stores will be "labs" in which the company is testing the sale of more food and home décor products.
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CEO Steven Temares said 21 "new-generation lab stores" opened last year had better results than others, according to CNN. Temares stated that these experimental stores had sales 2.2% higher than those of other stores over the last four weeks. Customers also spent more.
"We plan to open about 15 new stores during the 2019 fiscal year. This will be offset by a minimum of about 40 stores that we plan to close," said Robyn D & # 39; Elia, Financial Director and Treasurer, at the Wednesday earnings call, according to USA Today. "This number will increase unless we can negotiate more favorable lease terms with our owners."
The company currently has more than 1,000 stores in North America.
© 2019 Cox Media Group.
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