New York (CNN Business) Bed Bath & Beyond is struggling, and its turnaround plan includes shutting down about 40 locations this year and testing new ideas with "lab" stores that sell more home decor and food products. It expects to shutter more than 40 stores if the company cannot negotiate better lease terms at some locations — but the company also has plans to open 15 new locations. The company has 1024 stores in the United States, Puerto Rico, Canada and Mexico. CEO Steven Temares told investors during an earning call earlier this week that Bed Bath & Beyond started experimenting with 21 "next-generation lab stores" last year, and they've fared better than other locations. Bed Bath & Beyond BBBY Sales in the experimental stores were 2.2% higher than comparablestores over the past four weeks, Temares said on Wednesday.

Source: CNN April 13, 2019 20:03 UTC