Bed Bath & Beyond CEO on earnings, store closures and the future outlook
Bed Bath & Beyond CEO Mark Tritton joins "Squawk on the Street" to discuss the company's earnings, the state of business during the coronavirus pandemic and store closures.
Bed Bath & Beyond said Wednesday its sales tumbled nearly 50% during its latest quarter, even as online sales surged more than 100% during April and May, with consumers stocking up on cleaning supplies and home decor.
The company said it plans to permanently close roughly 200 of its namesake stores over the next two years, starting later in 2020, as it works toward getting back to profitability against the backdrop of the coronavirus pandemic. As of May 30, it operated a total of 1,478 stores, including 955 Bed Bath & Beyond shops.