Bed Bath & Beyond is closing stores and cutting corporate staff

Bed Bath & Beyond said it will close about 150 "lower producing" stores and cut staff by about 20 percent across its corporate and supply chain ranks. The company plans to reemphasize national brands in an attempt to attract shoppers to its stores and website. “We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth and delivering business returns,” said Sue Grove, interim CEO.