Bed Bath & Beyond To Close 150 Stores; Are MD Locations Affected?

MARYLAND — Bed Bath & Beyond said Wednesday it is closing 150 stores and cutting 20 percent of its workforce, though it’s unclear if the home goods retailer plans to shutter any of its Maryland stores.

Bed Bath & Beyond has 13 stores in Maryland, including stores in Towson, Columbia, Bel Air, Annapolis, and Rockville.

In 2020, the retailer closed three Maryland stores in Gaithersburg, Hanover (Arundel Mills Mall) and Salisbury.

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 ahead of a call with investors.

Sluggish sales have 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 include returning national brands to store shelves, a strategy interim CEO Sue Gove said is 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, adding, “The customer underpins our decisions, and we are committed to delivering what they want while driving growth, profitability, and financial returns.”

Here are the current Bed Bath & Beyond stores in Maryland:

• Annapolis: 200 Harker Place, Suite 200
• Bel Air: 559 Baltimore Pike
• California: 23415 Three Notch Road, Unit 9B
• Columbia: Snowden Square, 9021 Snowden River Parkway
• Frederick: Riverview Plaza, 5413 Urbana Pike
• Gambrills: 2382 Brandermill Boulevard, Suite 102
• Germantown: 12940 Middlebrook Road
• Hagerstown: 17716 Garland Groh Boulevard
• Ocean City: 12641 Ocean Gateway
• Rockville: Congressional North Shopping Center, 1519 Rockville Pike
• Towson: The Towson Place, 1238 Putty Hill Avenue, Suite 1
• Waldorf: 3270 Crain Highway
• Westminster: 200 Clifton Boulevard

Even before boutiques and malls were shut down by the coronavirus outbreak, traditional brick-and-mortar establishments saw a nosedive in revenue and popularity with the emergence of e-commerce companies such as Amazon and Walmart.