Posted on 01/24/2020 6:33:57 AM PST by vespa300
Brick-and-mortar retail took another hit this week when Bed Bath & Beyond announced it will shutter 40 stores this year, including four Southern California locations that have already closed.
All of the stores on the list, spread throughout 19 states, are expected to close within the next six months, the New Jersey-based company said.
(Excerpt) Read more at ocregister.com ...
Hey, I’m happy to blame Amazon for just about everything, but in this case it’s more likely blue state government run amok.
The list:
California
Chino Hills: 13021 Peyton Drive
Encino: 17401 Ventura Blvd.
Hemet: 1165 S. Sanderson Ave.
Santa Clarita: 19211 Golden Valley Road
Tracy: 2886 West Grant Line Road
Connecticut
Shelton: 862 Bridgeport Ave.
District of Columbia
Washington D.C.: 709 7th Street NW
Florida
Tampa: 12803 Citrus Plaza Drive
Hawaii
Honolulu: 1200 Ala Moana Blvd.
Iowa
Council Bluffs: 3706 Metro Drive
West Des Moines: 6805 Mills Civic Parkway
Illinois
Chicago: 530 N. State Street
McHenry: 3340 Shoppers Drive
Mount Prospect: 1057 N. Elmshurst Rd.
Louisiana
Baton Rouge: 9001 Florida Blvd.
Maryland
Owings Mills: 10300 Reisterstown Road
New Jersey
Parsippany: 790 Route 46
Newton: 17 Hampton House Road
Sewell: 141 Tuckahoe Road Suite 190
New Mexico
Rio Rancho: 3575 NM Highway 528 NE
New York
Bronx: 610 Exterior Street
Cheektowaga: 3781 Union Road
West Nyack: 1406 Palisades Center Drive
North Dakota
Grand Forks: 3841 32nd Ave. South
Ohio
Cincinnati: 6068 Glenway Ave.
Grove City: Parkway Centre South, 1747 Stringtown Road
Mayfield Heights: East Gate Shopping Center, 1371 SOM Center Road
North Olmsted: 25975 Great Northern Plaza
Pennsylvania
Muncy: 290 South Lycoming Mall Road
Johnstown: Richland Town Centre, 340 Town Centre Drive
Rhode Island
Providence: 24 Providence Place
Texas
Austin: 9600 IH-35 Service Road
Harlingen: 2817 W. Expressway 83 Frontage
Houston: West Oaks Shopping Center, 2306 S Highway 6
Houston: 700 Meyerland Plaza
Houston: 6675 Highway 6 North
Utah
Midvale: The Family Center at Fort Union, 7210 S. Union Park Ave.
West Valley City: 3595 S. Constitution Blvd.
Virginia
Stafford: 1190 Stafford Marketplace
Wisconsin
Racine: 2360 S. Green Bay Road
Large malls have not aged well. I wonder about the air quality in them - germs galore.
High prices.........................
High labor costs. High taxes.
There was some commentary in Barron’s magazine about the company. Apparently they’ve been running a low margin business, and they hired a new CEO from Target. Supposedly, he’s cleaning house and tightening things up. Improvement is possible but not guaranteed.
Yeah, it’s just a tough situation for brick and mortar retailers. I feel their pain. I guess I’m old fashioned too. I like to see stores, malls, retail centers, full parking lots, people, family shopping, JC Penny’s, Sears, heck....The Broadway, Buffums, FedCo, Gemco, Ohrbachs, Tower Records, I magnin, the 50s, 60s, and 70s....etc. etc. .....in other words...competition and jobs, jobs, and more jobs.
People have been wondering how long Bed, Bath & Beyond would last for at least 5-7 years.
High rent/leases as well...................
I’m amazed that any retailer has a store in Johnstown, Pennsylvania.
It’s as dead as Paul Newman predicted it would be in 1977.
Our Chino Hills store was one of the closures. It was in a dead shopping center with only the Costco and Lowe’s viable. I think they could have made a go of it just relocating a couple miles in other thriving Shopping centers. Both Best Buy and BevMo made that move out the same dead Shopping Center to two miles away in Chino.
Yup. Here in NYS it’s gonna get even worse because of what the state legislature has done with the minimum wage. And Upstate is already a retail wasteland.
In some cases the property makes it worth keeping a bricks and mortar store there.
Don’t forget Woolworth’s that had everything. French fries at the dining counter, fabric, Evening In Paris perfume. Everything. :)
I’m glad the one my wife and I go to in Stafford, TX is not on the list. They are also opening a new Cost Plus/World Market in the same shopping Center.
I read a review on Amazon for a memory foam mattress. One of the reviews mentioned that their 12” deep mattress only expanded to about 8 inches, and when they complained, Amazon just gave them a refund. So I told my wife, “hey, 8 inches is fine, lets give it a try”.
So we ordered the 12” and, sure enough, after 4 days, it only expanded to ~8 inches. We emailed to return it and they said they can’t take returns on mattresses so they just gave us a refund.
Free mattress. WOOHOO!
We are having the same here in Florida, so it’s not just a NY thing.
Our local Mall is half empty, and few people even go there any more.
It used to be full, all stores rented, people crowding the Food Courts.
They have shut down one wing and torn it down to build an apartment building. I guess the theory is have people live adjacent and connected to the Mall so they will shop there...................
I wonder if Viagra would do the same?.....................
My wife will be devastated if the one she frequents closes. She has about 50 coupons for 20% off she keeps stuffed in the side pocket in her car door.
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