Bed Bath & Beyond (NASDAQ:BBBY) is getting ready to welcome guests back to its stores. On Friday, the specialty retailer announced its plans for reopening in the coming weeks after most of its locations closed due to the COVID-19 pandemic.
The chain expects to open 500 of its trademark locations between now and June 13, which would put the company at half capacity. Executives said the timetable reflects caution around maintaining safety while the coronavirus threat remains. "We continue to respond to the COVID-19 situation with measured, purposeful steps to help keep our people safe and our customers served," CEO Mark Tritton said in a press release.
The retailer, which had been struggling with weak demand before the crisis, notched key operating wins in recent weeks, including doubling its digital sales. Bed Bath & Beyond plans to press that advantage by rolling out curbside pickup to essentially all of its reopened stores.
Management is hoping that this multi-channel selling posture, plus a renewed focus on consumer spending for home supplies and furnishings, can help the chain emerge from the crisis with improved sales trends. Yet investors are likely to see significant sales and profit pressures on the business at least through the fiscal second quarter.