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Bed Bath & Beyond is closing its Hamden, Connecticut store. This is part of a plan to save $500 million annually. (Dreams Time/TNS)
Dreams Time/TNS
Bed Bath & Beyond has added its Hampden store to its list of locations it plans to close. This follows Stamford and Waterford, where dozens of stores have closed nationwide.
The latest closures have left home retailers with stores in Norwalk, Brookfield, Fairfield, Guildford, Southington, Wethersfield, Simsbury, Manchester and Enfield.
On Tuesday, Bed Bath & Beyond reported a loss of $393 million in the third quarter of its fiscal year that ended Black Friday weekend, with revenue down a third to $1.2 billion from the same period last year. became. That took the company’s losses to his $1.1 billion in the first nine months of the fiscal year dating back to February 2022.
Under new CEO Sue Gove, Bed Bath & Beyond has targeted the closure of 150 stores nationwide to reduce annual costs by $500 million. The company said on Tuesday it would continue to consider “strategic alternatives” that could include bankruptcy restructuring, according to the Associated Press.
The chain’s Dickswell Avenue store in Hamden is just off Merritt Parkway, a shopping district that includes Walmart, TJ Maxx, Coles, Burlington and Old Navy.
Alex.Soule@scni.com; @casoulman
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