MOUNT VERNON, NY — Retailer Bed, Bath & Beyond said the end may have arrived for the popular Mount Vernon store.
Although the company officials won’t say exactly when the store at 500 East Sandford Boulevard will close, they did say that the liquidation sale is in its “final days.” The remaining stock at the once popular shopping destination is being discounted by between 70 and 80 percent of original prices — no coupon required.
Lake: Bad Sign For One Of The Few Remaining Westchester Bed Bath & Beyond Stores
Bed Bath & Beyond announced at the end of August it will be closing 150 stores and cutting 20 percent of its workforce. The Mount Vernon store was among the first victims of the latest round of cost cutting.
The constriction is part of the chain’s turnaround push. The closures include “lower producing” banner namesake stores, and layoffs will be across corporate and supply chain staff, the company said in a news release in August, ahead of a call with investors.
Sluggish sales had carried into the third quarter, the company said, with in-store sales dropping by 26 percent for the three-month period ending Aug. 27, compared with the same period in 2021. It was the steepest drop in sales the chain had seen in years.
The company said it had received $500 million in new financing to shore up its business model before the important fourth quarter holiday shopping season. Plans included returning national brands to store shelves, a strategy interim CEO Sue Gove said was intended to make the company once again “a preferred shopping destination.”
“We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns,” Gove said in the release last summer, adding, “The customer underpins our decisions, and we are committed to delivering what they want while driving growth, profitability, and financial returns.”