Retailer to exit high-profile stores as it bets on infusion from Bed, Bath & Beyond`s owner
The Container Store is hoping a $40 million bet from the owner of Bed, Bath & Beyond will help it navigate mounting losses that are curtailing plans to open any new stores.
The organizational retailer is closing a high-profile store in Los Angeles and plans to exit a Chicago store once the lease expires in February because of rising rents, according to a source close to the situation. And plans for any new locations once two small-format stores open in Florida before the end of the fiscal year are on hold, the source said.
The Container Store ended the quarter with 103 U.S. locations...
...moreThe organizational retailer is closing a high-profile store in Los Angeles and plans to exit a Chicago store once the lease expires in February because of rising rents, according to a source close to the situation. And plans for any new locations once two small-format stores open in Florida before the end of the fiscal year are on hold, the source said.
The Container Store ended the quarter with 103 U.S. locations...
RSK: I think this is just a prelude to the next step. Consumers just aren`t spending on frivolous things and making do without.
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- - Volume: 24 - WEEK: 46 Date: 11/12/2024 1:07:49 PM -