The home goods store best known for its abundant coupon deals is closing two Bay Area locations by the end of 2022, in Campbell and in Milpitas, according to reporting by The Mercury News.
The closures are part of Bed Bath & Beyond's larger plan to close around 200 stores in total, releasing 37 of the locations on Thursday.
Bed Bath & Beyond first announced the plan two years ago, the paper reported, as part of a widescale effort to rebrand the business.
This will also include store remodels, label transformation, and a pivot to mainly online shopping, the paper reported. In recent years, the company has been in the process of remodeling 450 locations, around half of the total, according to the paper.
The selected stores are shuttering at the end of next month.
The changes are likely an attempt to stay competitive with other businesses, like Target and Amazon, as Bed Bath & Beyond sales have declined in recent years, said the paper.
Current CEO Mark Tritton has been spearheading the transformation.
"Having concluded just the third quarter of our multi-year plan, we will continue to execute our strategic transformation by diagnosing and reforming our legacy business to achieve our goals," said Tritton in a release Thursday outlining the recent quarter’s earnings. "As we prepare for 2022, we look forward to operating in a normalized environment with a base of business upon which to grow."
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