Beleaguered retailer Bed Bath & Beyond has revealed the first 56 stores that will close out of the 150 it intends to shutter nationwide – with one of them in Minnesota.
The company on Thursday released a list of the first confirmed closures, with the store at the Rivertown Village Shopping Center in St. Cloud among them.
It's not clear at this time when the store will close by.
The company is under increasing pressure to cut costs after repeated quarters of declining sales.
It has also been criticized for buying back $675 million of its own stock in late 2020.
The company had just under 1,500 stores in early 2020, but that has declined to 955 two years later, of which 769 are Bed, Bath & Beyond
CNBC reports it had a total of 1,478 stores, at the end of the first quarter in 2020. By the same time this year, it had a total of 955 stores, including 769 Bed Bath & Beyond shops, with other store brands including Buybuy Baby, Harmon, Harmon Face Values, and Face Values.
When the St. Cloud location closes, it will leave seven stores in Minnesota.
- Apple Valley, 14910 Florence Trail
- Bloomington, 7961 Southtown Center
- Maple Grove, 7950 Wedgewood Lane North
- Minnetonka, 11240 Wayzata Boulevard
- Rochester, 40 25th Street Southeast
- Roseville, 2480 North Fairview, Suite 115A
- Woodbury, 8250 Tamarack Village