The chief financial officer for Bed Bath & Beyond says 40 of the business' stores will close this year, but 15 new ones will open.
On the company's earnings call, CFO Robyn D'Elia said they are in need of more favorable lease terms with landlords.
The goods retailer is based in New Jersey. In the last quarter of 2018, the company closed 21 stores and opened three, USA Today reports.
D'Elia said the complany will be testing new "next generation lab stores" in which new and different assortments and "visual merchandising" will aim to "reimagine the in-store experience."