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Bed Bath & Beyond eyes more layoffs as 3Q sales tank

KIFI

By MICHELLE CHAPMAN
AP Business Writer

Bed Bath & Beyond’s fiscal third-quarter sales fell by a third as the home goods company struggles to strike the right balance with its shoppers, a sign of its worsening outlook. The company, which has already been cutting costs, said Tuesday it will slash an additional $80 million to $100 million across the company, including an unspecified number of layoffs. Sales slid to $1.26 billion from $1.88 billion for the three months ended Nov. 26, and its quarterly loss widened to $393 million. Sales at stores open at least a year, a key gauge of a retailer’s health, dropped 32%.

Article Topic Follows: AP National Business

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