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“Our lease term is ending for our Springfield location,” said Leah Drill, a spokeswoman for the company in an email. “Our customers can find us at 2720 Towne Drive in Beavercreek, 8284 Old Troy Pike Road in Huber Heights or shop online at www.bedbathandbeyond.com.”
Customers outside the business this week said they were surprised to see the retailer closing. Brenda Scott, of Springfield, said her mother likes to shop at the chain as well and that it will be one less retailer to serve Clark County.
“You’ve got to go all the way to Fairfield Commons to find something,” she said of the mall in Beavercreek.
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Springfield has seen mixed results with national and regional retail stores in the past few years. Traditional major retailers like Macy’s, JC Penney and Target have closed, along with smaller chains like Bon Worth and American Eagle Outfitters.
At the same time, Springfield has attracted new businesses like Dick’s Sporting Goods, Rural King and Bargain Hunt. Hobby Lobby also recently built a newer store on Bechtle Avenue and national restaurant chains like IHOP and Five Guys have opened there as well.
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It’s not clear why the Springfield Bed Bath & Beyond is closing its doors. But retail in general is undergoing a transformation as shoppers have different expectations and increasingly shop online, said Gordon Gough, president and CEO of the Ohio Council of Retail Merchants.
Gough acknowledged many national retail chains are struggling, but pointed to Amazon’s recent acquisition of Whole Foods as a sign that there’s still plenty of demand for brick and mortar shopping locations for customers. Instead, he said the industry is going through a transformational period where some older chains might struggle but others take their place.
He also pointed to statistics from the National Retail Federation that showed online sales make up less than 10 percent of total retail sales, and many of those sales are from traditional brick and mortar brands’s websites.
“If brick and mortar was dead, why would Amazon make such a large investment in a brick and mortar chain,” Gough said.
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Bed Bath & Beyond Inc., based in New Jersey, was founded in 1971, according to information from the company website. The company operates more than 1,000 Bed Bath & Beyond stores in all 50 states, Puerto Rico and Canada.
It also operates several retail websites and runs stores under the name of World Market, Christmas Tree Shops and other brands.
“There’s been some discussion of whether we have too many retail brick and mortar locations over the years and maybe you’re seeing some of that, where stores are shedding non-performing stores because the consumers in that particular area may be buying more online,” Gough said. “There are a lot of factors at play.”
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By the numbers
1,000: Bed Bath & Beyond stores in all 50 states, Puerto Rice and Canada
1971: Year Bed Bath & Beyond was founded
10 percent: Of total retail sales are online sales, according to the National Retail Federation
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