Home Decor Retailer with Iowa Locations Closing Multiple Stores
They employ 65,000 people nationwide, and have stores in Cedar Rapids and Coralville. Earlier this week, Bed, Bath & Beyond announced the closure of at least 40 of its 994 nationwide stores, citing "lease issues".
The retailer is undergoing a "comprehensive review" of its corporate practices and operation, with general restructuring in mind. While anticipating closure of many of its stores, another 15 will soon be opening.
They have opened 21 "lab stores" to try their new potential concept, with reportedly a great amount of success. The new lab stores recorded 2.2 percent higher sales than their existing counterparts, offering better layouts and views of the stores' merchandise.
You guessed it, online shopping is also said to be taking a big chunk of the business Bed, Bath & Beyond once thrived in.
Whether or not the Eastern Iowa locations would be among those to close was unclear, as no comment was available from corporate officials.