Bed Bath & Beyond’s Response To COVID-19

UNION, N.J. — March 19, 2020 — Bed Bath & Beyond Inc. today announced that it would temporarily close more than 50 percent of its stores across all its banners, within the United States and Canada, to help reduce the spread of the novel coronavirus (COVID-19).  This includes the majority of its core, Bed Bath & Beyond retail stores. Subject to state and local regulations, the Company will continue to operate stores which sell health care, personal care, infant care, cleaning supplies, or food and beverages, to provide customers with the essential products they need.

Mark Tritton, president and CEO, said, “In this time of great uncertainty, our first priority is the welfare of our customers and associates.  We are therefore taking this decisive action to help keep our communities safe, while continuing to serve our loyal customers with the essential cleaning, health and personal care products that they and their families need at this time. We will continue to adapt and be responsive as our customer needs change, and in line with public health guidance and regulations.”

As of the morning of Friday, March 20, 2020, the company will take the following actions:

  • Closing around 800 Bed Bath & Beyond store locations until April 3, 2020, that do not have a health and personal care department.
    • Associates will be provided with pay and applicable benefits during this period.
  • Operating approximately 700 essential stores, including the Company’s buybuy BABY, Harmon and other concepts, as well as any Bed Bath & Beyond stores that do have a health and personal care department.
    • To the extent state and local regulations permit, these stores will operate under limited hours to provide essential products, such as supplies for infants and babies, health and personal care, cleaning products, food and beverages.
  • Continuing our commitment to implement a number of policies to help associates and customers remain safe and healthy.
    • This includes enhanced cleaning routines across stores, frequent cleaning of high-touch surfaces, practicing social distancing while in-store, and ensuring adherence to public health guidelines.
  • Enhancing e-commerce and distribution capabilities to serve more customers in their homes across all concept brands.
    • This includes increasing local fulfillment capabilities by utilizing some stores being temporarily closed to the public across the US and Canada, to serve customers in their homes across brands.

“Our mission is to make it easy for our customers to feel at home and we remain committed to delivering for them, however we can, during this difficult time,” Tritton said. “We have a remarkable team and robust contingency plans, supported by a strong balance sheet, to navigate this unprecedented challenge.”

As this situation continues to evolve, the company is monitoring guidance provided by multiple local, state, federal, and global public health entities and stands ready to implement immediate changes, as needed.

Posted March 20, 2020

Source: Bed Bath & Beyond Inc.