3 more Mattress Bathtub & Over and above locations are closing through the Bay Region, the residence merchandise retailer confirmed in a assertion to SFGATE on Thursday — just a week right after the firm warned it may well have to file for personal bankruptcy security amid declining income.
Outlets affected regionally consist of the San Jose location at 5353 Almaden Expressway, the Antioch spot at 5719 Lone Tree Way, and the Vallejo spot at 105 Plaza Travel. A spokesperson for Bed Bath & Beyond advised SFGATE that specific closure dates would “vary by store” and that “store closing product sales will start and keep on above the next handful of months.”
The Union, New Jersey-primarily based brand announced previous September that it would near 150 “lower-producing” outlets and lay off 20% of its workforce as portion of a new system for the company. Since then, two other merchants in Larkspur and San Leandro have forever closed.
On Tuesday, Mattress Bathtub & Outside of noted a net loss of nearly $393 million in its fiscal third quarter, a 42% plunge from $276 million the prior calendar year. Web gross sales had also reduced from $188 billion in 2021 to $126 million for the third quarter.
Prospects go away a Mattress, Bathtub & Past retailer on Aug. 31, 2022, at Larkspur. It can be a person of the Bay Space locations to lately shut.
Justin Sullivan/Getty Visuals“At the beginning of the third quarter, we initiated a turnaround program anchored on serving our faithful consumers, pursuing a period when our merchandise and approach experienced veered absent from their tastes,” Sue Gove, the president and CEO of Bed Bath & Outside of, said in the Tuesday statement. “Although we moved rapidly and successfully to change the assortment and other merchandising and marketing and advertising tactics, stock was constrained and we did not reach our ambitions.
“We will proceed to rebalance our assortment in the direction of National Models and refine our Owned Makes combine to replicate the deep comprehending of our client, alongside with the selection and worth only we can supply in the Home and Baby markets. We are actively pursuing higher in-stock ranges to satisfy demonstrated demand from customers.”
See the full record of nationwide closures from Bed Tub & Beyond.
SFGATE regional editor Tessa McLean contributed to this report.
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