Bed Bath & Beyond to close 2 stores in New JerseyPosted: Updated:
Bed Bath & Beyond is closing two stores in New Jersey.
The store on 17 Hampton House Road, Ste. 8 in Newton, and the store on 141 Tuckahoe Road in Turnersville will close this year.
According to the company, the stores no longer meet their standards.
The company plans to spruce up other stores and focus on its website.
The news comes after the company withdrew its annual profit guidance after reporting weak third-quarter profits and sales that missed Wall Street expectations.
It’s shares dropped more than 7% in extended trading Wednesday after the housewares retailer reported its quarterly results.
The latest performance underscores the challenges facing the troubled chain’s new CEO Mark Tritton.
AP wire services helped contribute to this report.
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