Bed Bath & Beyond says it will close 40 stores

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Bed Bath & Beyond Inc. signage is displayed on the exterior of a store in Charlotte, North Carolina, U.S., on Monday, June 25, 2018. Bed Bath & Beyond is scheduled to release earnings figures on June 27. Photographer: Logan Cyrus/Bloomberg via Getty Images

Bed Bath & Beyond has announced it will close 40 stores this year.

It also said it will open 15 new stores.

The retailer said the closings are a result of mixed results in its 2018 fourth-quarter earnings, USA Today is reporting.

The company has not yet announced which stores will be closing or where new stores will be opened.

The New Jersey-based home goods retailer also operates Buy Buy Baby, Harmon Face Values and World Market.

Most of the stores to be closed are expected to be Bed Bath & Beyond stores.

This is not the fire time BB&B has shuttered stores. Last year in the fourth quarter, the company closed 21 stores. It opened three new stores during the same time period.

The company operates a total of 1,533 stores across all of its brands, including 994 Bed Bath & Beyond stores in all 50 states, the District of Columbia, Puerto Rico and Canada.

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