Bed, Bath & Beyond closing 40 stores

(CNN) - According to CNN Business, the home goods retailer says it will close approximately 40 stores but open 15.

Bed Bath & Beyond currently operates 1,500 stores.

The company's chief financial officer and treasurer Robyn D'Elia saying that the number of stores that are expected to close will grow if the company doesn't quote "negotiate more favorable lease terms" with landlords.

CEO Steven Temares told investors during an earnings call earlier this week that the new 21 “next-generation lab stores” fared better than other locations.

Officials also reportedly discussed plans to test out different visual merchandising to enhance the shopping experience.

Shares of Bed Bath & Beyond stock were up Friday morning.