Beleaguered home goods retailer Bed Bath & Beyond is saying bye-bye to five stores in Texas, including one in Austin and three in Houston.
The Austin store being shuttered is located at 9600 S. I-35 Service Rd. in the Southpark Meadows shopping center. A store in Harlingen also is being closed.
In all, Bed Bath & Beyond has shuttered or will shutter 40 stores across the U.S. during the first half of 2020, USA Today reported January 21. In a statement reported by Chicago TV station WMAQ, company spokesman Dominic Pendry says these stores are being closed because they “no longer meet the standards our customers expect from us.”
During the first nine months of its 2019 budget year, the Union, New Jersey-based retailer posted a net loss of more than $548 million and saw a 7.7 percent drop-off in sales compared with the same period in 2018.
“Our performance in the third quarter was unsatisfactory and underscores the imperative for change and strengthens our sense of priorities and purpose,” Mark Tritton, president and CEO of Bed Bath & Beyond, said in a January 8 release about the retailer’s third-quarter financial results. “We must respond to the challenges we face as a business, including pressured sales and profitability, and reconstruct a modern, durable model for long-term profitable growth.”
As of November 30, the company operated 981 Bed Bath & Beyond stores in the U.S.