Bed Bath & Beyond Is Shuttering Hundreds of Stores — Here Are the Much-Loved Retailers Ready to Move InOne popular gym chain is also eyeing the vacant spaces.
ByAmanda Breen•
It's been a rough stretch for beleaguered retailerBed Bath & Beyond, which is on track toclose 400 storesto avoid bankruptcy.
And other chains aren't wasting time when it comes to filling the many thousands of square feet left behind:TJ Maxx, HomeGoods and Ross have already set up shop in vacant stores,CNNreported.
Related:Bed, Bath, Beyond & Bankruptcy: Low Inventory Threatens Chain
New retail space has been difficult to come by since the 2008 financial crisis and thesteady growth of ecommerce. That lack of new supply is driving positive net absorption, rising rents and lower vacancy rates, which will likely continue in 2023, according toCBRE, a global leader in commercial real estate.
Retail landlords and real estate analysts sayBurlington, Five Below, Nordstrom Rack andPlanet Fitnessmight also take advantage of Bed Bath & Beyond's exit, per CNN.
"For us, the biggest source of new store locations comes from other retailers closing stores," Burlington CEO Michael O'Sullivan said on an analyst call in February. "So many of our most productive locations were formerly Circuit City or Toys 'R' Us or Sports Authority."
Related:A College Student Cashed Out a $110 Million Profit on Bed Bath & Beyond
Bed Bath & Beyond Inc is down more than 96% year over year.
