THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, November 30, 1995 TAG: 9511300507
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY STEPHANIE STOUGHTON, STAFF WRITER
LENGTH: Short : 50 lines
Bed Bath & Beyond Inc., a rapidly growing retailer based in Springfield, N.J., will enter South Hampton Roads with two superstores next year, a company official said.
The first outlet is scheduled to open in Chesapeake's Greenbrier area in the spring. The second store is expected to open in Columbus Village Entertainment Center in Virginia Beach's Pembroke section next summer.
``I think it will be a nice addition to retail,'' said Debra Ramey of The Shopping Center Group, which is finding local sites for Bed Bath & Beyond.
In 1971, Leonard Feinstein and Warren Eisenberg opened their first two stores in New York and New Jersey, selling bed and bath products.
In 1985, Feinstein and Eisenberg launched their first superstore, carrying a full line of home furnishings and domestic merchandise.
Since its founding, Bed Bath & Beyond has rapidly expanded. It now has 80 stores and expects to open about 20 next year.
The company has moved into Northern Virginia with several stores and is continuing to look at additional markets across the state. In Hampton Roads, company officials saw a region that was ripe for expansion.
``It is a major market,'' said Michael Callahan of Bed Bath & Beyond's real estate department. ``We saw the type of population that could support our store.''
Callahan would not say how many Bed Bath & Beyond stores would ultimately open in Hampton Roads and other Virginia markets. But, he said, ``The whole market is in play.''
Gerald Divaris, president of Divaris Real Estate Inc., said Hampton Roads probably could support three Bed Bath & Beyond stores. Retailers expanding to this region also tend to look at nearby markets such as the Peninsula and Richmond.
``They would need to have more than two stores,'' Divaris said. ``There are management issues, advertising costs. . . . There are a lot of issues that come into play.''
Bed Bath & Beyond may not go head to head with any companies, but it may lure some sales from a variety of retailers - everyone from Linen Warehouse to Hecht's department stores.
The company's superstores, which carry everything from cookware to linens, also offer computerized bridal and gift registries, monogramming and delivery services. by CNB