Bed Bath & Beyond adds State Street to closings list that includes McHenry, Mount Prospect stores

Along with closing stores in Mount Prospect and McHenry, Bed Bath & Beyond will be shutting down its store on State Street in the River North district of Chicago.

The stores will be closing this year as the company adjusts its retail strategy following a weak holiday season.

A company spokesman said the stores that are closing “no longer meet the standards our customers expect from us.”

The closing comes as the home goods retailer — like other major retailers — looks to recover from a slow holiday shopping season. Bed Bath and Beyond pulled its 2020 forecast earlier this month after third-quarter results missed estimates.

The three stores are among 40 in 19 states and Washington D.C. that have or will be closed this year, officials told USA Today this week.

The company has been working to turn around its downward trend since naming former Target executive Mark Tritton as CEO last October. In December, six senior executives were let go as part of the company's reorganization.

Despite the weak financial results, the spokesman said the company has invested millions of dollars into revamping 150 stores nationwide to “give customers an even better experience,” as well as into improvements to its online shopping platform.

The spokesman did not comment on what will happen to employees displaced by the store closings.

Bed Bath and Beyond also runs Buy Buy Baby, Christmas Tree Shops and Cost Plus World Market.

• Daily Herald news services contributed to this report.