Bed Bath & Beyond expects to reopen 500 North American stores, bring back 11,000 furloughed workers by June 13
Bed Bath & Beyond Inc. said Friday that it plans to reopen 600 stores, including 500 across North America, and bring back about 11,000 furloughed workers by June 13. In addition to 500 Bed Bath & Beyond locations in the U.S. and Canada, about 50 Christmas Tree Shops and 50 Cost Plus World Market stores will begin operating. As of February 2020, the company had 1,500 stores, and it employs 55,000 workers, according to FactSet. Bed Bath & Beyond is also expanding contactless curbside pickup services to 1,350 stores total, adding 600. Traffic to the Bed Bath & Beyond website and mobile app is up more than 30% over recent weeks and digital sales have doubled, according to a statement from Mark Tritton, Bed Bath & Beyond chief executive. The retailer’s safety plan includes enhanced sanitation, protective gear for workers and limiting the number of people allowed in stores at one time. Bed Bath & Beyond stock rose 2.5% in Friday premarket trading but has dropped more than 60% for the year to date. The S&P 500 index is down 8.7% for 2020 so far.
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