Bed Bath & Beyond is closing a store in Hamden, Conn., as part of a plan to eliminate $500 million in annual expenses. (Dreamstime/TNS)
Dreamstime/TNSBed Bath & Beyond added its Hamden store to a list of locations slated for closure, on the heels of stores being shuttered in Stamford and Waterford among dozens nationally.
The newest round of closures leaves the home retailer with locations in Norwalk, Brookfield, Fairfield, Guilford, Southington, Wethersfield, Simsbury, Manchester, and Enfield.
On Tuesday, Bed Bath & Beyond reported a $393 million loss for its fiscal third quarter that ended on Black Friday weekend, with sales down by a third from a year earlier to $1.2 billion. That pushed the company’s losses to $1.1 billion for the first nine months of its fiscal year dating back to February 2022.
Under new CEO Sue Gove, Bed Bath & Beyond targeted 150 stores for closure nationally in a bid to cut $500 million in annual costs. On Tuesday, the company indicated it continues to consider “strategic alternatives” that could include a bankruptcy restructuring, according to the Associated Press.
The chain’s Dixwell Avenue store in Hamden is just off the Merritt Parkway on a retail strip that includes Walmart, TJ Maxx, Kohl’s, Burlington and Old Navy.
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