UNION, N.J., Aug. 3, 2020 /PRNewswire/ -- Bed Bath
& Beyond Inc. (Nasdaq: BBBY) today announced plans to
close its stores on Thanksgiving Day in the U.S. and Canada, including Bed Bath & Beyond®,
buybuy BABY®, Christmas Tree Shops®, Harmon® Face Values® and Cost
Plus World Market®. The Company will provide a full range of
shopping options leading up to each country's Thanksgiving Day,
including newly introduced 2-hour Buy-Online-Pickup-In-Store
(BOPIS) and contactless Curbside Pickup services, to make the
Holiday shopping experience as safe and easy as possible. Customers
will also be able to find all the latest Holiday deals online
throughout the Thanksgiving period, for delivery in-home or to
their local store.
President & CEO Mark Tritton
of Bed Bath & Beyond Inc. said, "Throughout the COVID-19
crisis, our dedicated associate teams have taken exceptional steps
to keep each other safe, our customers served, and our communities
supported with the essential items they need. We're so proud
of what our associates have achieved to help our customers feel at
home during this time.
"In a year when it's more important than ever to celebrate the
season with friends and family, we will be there to help our
customers' make this Holiday season extra special. We're also
pleased that we can ensure our people have time to be with their
loved ones this Thanksgiving and are so grateful for their
commitment and support throughout this extraordinary
year."
The Company will shortly unveil plans to make it even easier to
feel at home this Holiday season, including great deals, inspiring
products, thoughtful gifts, new shopping hours and services that
allow everyone to shop safely and conveniently.
About Bed Bath & Beyond Inc.
Bed Bath &
Beyond Inc. and subsidiaries (the "Company") is an omnichannel
retailer that makes it easy for our customers to feel at home. The
Company sells a wide assortment of domestic merchandise and home
furnishings. The Company also provides a variety of textile
products, amenities and other goods to institutional customers in
the hospitality, cruise line, healthcare and other industries.
Additionally, the Company is a partner in a joint venture which
operates retail stores in Mexico
under the name Bed Bath & Beyond.
Forward-Looking Statements
This press release contains
forward-looking statements, including, but not limited to, the
Company's progress and anticipated progress towards its long-term
objectives. Many of these forward-looking statements can be
identified by use of words such as may, will, expect, anticipate,
approximate, estimate, assume, continue, model, project, plan,
goal, and similar words and phrases, although the absence of those
words does not necessarily mean that statements are not
forward-looking. The Company's actual results and future financial
condition may differ materially from those expressed in any such
forward-looking statements as a result of many factors. Such
factors include, without limitation: general economic conditions
including the housing market, a challenging overall macroeconomic
environment and related changes in the retailing environment; risks
associated with COVID-19 and the governmental responses to it,
including its impacts across the Company's businesses on demand and
operations, as well as on the operations of the Company's suppliers
and other business partners, and the effectiveness of the Company's
actions taken in response to these risks; consumer preferences,
spending habits and adoption of new technologies; demographics and
other macroeconomic factors that may impact the level of spending
for the types of merchandise sold by the Company; civil
disturbances and terrorist acts; unusual weather patterns and
natural disasters; competition from existing and potential
competitors across all channels; pricing pressures; liquidity; the
ability to achieve anticipated cost savings, and to not exceed
anticipated costs, associated with organizational changes and
investments, including the Company's strategic restructuring
program; the ability to attract and retain qualified employees in
all areas of the organization; the cost of labor, merchandise and
other costs and expenses; potential supply chain disruption due to
trade restrictions, and other factors such as natural disasters,
such as pandemics, including the COVID-19 pandemic, political
instability, labor disturbances, product recalls, financial or
operational instability of suppliers or carriers, and other items;
the ability to find suitable locations at acceptable occupancy
costs and other terms to support the Company's plans for new
stores; the ability to establish and profitably maintain the
appropriate mix of digital and physical presence in the markets it
serves; the ability to assess and implement technologies in support
of the Company's development of its omnichannel capabilities; the
ability to effectively and timely adjust the Company's plans in the
face of the rapidly changing retail and economic environment,
including in response to the COVID-19 pandemic; uncertainty in
financial markets; volatility in the price of the Company's common
stock and its effect, and the effect of other factors, including
the COVID-19 pandemic, on the Company's capital allocation
strategy; risks associated with the ability to achieve a successful
outcome for its business concepts and to otherwise achieve its
business strategies; the impact of intangible asset and other
impairments; disruptions to the Company's information technology
systems including but not limited to security breaches of systems
protecting consumer and employee information or other types of
cybercrimes or cybersecurity attacks; reputational risk arising
from challenges to the Company's or a third party product or
service supplier's compliance with various laws, regulations or
standards, including those related to labor, health, safety,
privacy or the environment; reputational risk arising from
third-party merchandise or service vendor performance in direct
home delivery or assembly of product for customers; changes to
statutory, regulatory and legal requirements, including without
limitation proposed changes affecting international trade; changes
to, or new, tax laws or interpretation of existing tax laws; new,
or developments in existing, litigation, claims or assessments;
changes to, or new, accounting standards; and foreign currency
exchange rate fluctuations. The Company does not undertake any
obligation to update its forward-looking statements.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/bed-bath--beyond-inc-to-close-stores-on-thanksgiving-day-in-the-us-and-canada-301104481.html
SOURCE Bed Bath & Beyond Inc.