Bed Bath & Beyond has announced that it will close 150 stores—about 16% of its retail footprint—and lay off nearly a quarter of its workforce.

The home furnishings giant said the 150 stores it is shuttering are “lower-performing” outlets in a portfolio that totaled 955 prior to the announcement, including 769 namesake stores, 135 Buybuy Baby outlets and 52 stores under its Harmon and Face Value brands.

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Jack Rogers

 

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