Bed Bath & Beyond in Davenport is closing, but the timeline is unclear.
An employee confirmed the closure Monday morning but did not know the closure date. A store manager directed all questions to the company's corporate office, which has not responded to multiple inquiries. A sign on the door at 4022 E. 53rd St. indicates the store's entire inventory is 10% off.
Financial trouble at the home goods store has been ongoing for months. On Aug. 31, the chain announced the closure of approximately 150 "lower-producing" stores as part of its "strategic change to strengthen its financial positioning."
The company also reported net sales of approximately $1.45 billion and a sales decline of 26% compared with the second quarter of FY 2021.
In the months that followed, the company went through multiple leadership changes, including the death of Chief Financing Officer Gustavo Arnal in September. In January, the company announced the third-quarter results showed net sales of approximately $1.259 billion, compared with $1.878 billion the year before — a 33% drop. At the time, the company was expecting a net loss of $385.8 million for that quarter alone.
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On Jan. 30, the company released a list of an additional 87 stores closing. At the time, the Coralville location was the only one in Iowa set to close. Five stores in the Chicagoland area were listed, but the Davenport store was not.
