(CNN) — Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans to close in the coming weeks.
One of the closures will be in Jackson.READ MORE: Ways To Save While On Vacation
The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce under CEO Mark Tritton.
Affected locations will be closed by the end of February and are currently having liquidation sales.
Bed Bath & Beyond is in the midst of remodeling 450 stores, representing about half of its locations, at a cost of $250 million. The company has been hit with falling sales and declining foot traffic in recent years as shoppers defect to competitors, such as Target and Amazon, which carry much of the same household basics that Bed Bath & Beyond sells.
Tritton joined Bed Bath & Beyond from Target three years ago and has led the company through a turnaround over the past few years as housebound shoppers increased their spending on kitchen and home essentials.
The retailer released earnings Thursday and missed analysts’ expectations. Same-stores sales slipped 7% with sales of $1.9 billion, a 30% decline compared to the same quarter a year ago. Ongoing supply chain issues and inventory constraints cost the company about $100 million, Tritton said.
Shares were nearly 4% higher in Thursday trading.
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