Bed Bath and Beyond to close 40 stores

(CNN) It's good news and bad news for Bed Bath and Beyond.

According to USA Today, the home goods retailer says it will close approximately 40 stores but open 15.

Bed Bath and Beyond currently operates 1,500 stores.

USA Today quoted 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 "negotiate more favorable lease terms" with landlords.

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

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