Signage is displayed outside of a Bed Bath & Beyond Inc. store in Los Angeles, California, U.S., on Monday, Sept. 19, 2016.

Bed Bath & Beyond will close 60 stores by the end of fiscal 2019, the company announced in an earnings call Wednesday. It previously estimated it would shutter 40 stores.

Interim CEO Mary Winston said the decision is a result of its work to optimize its fleet. "With this action we are increasing the profitability of our remaining portfolio, and believe that our remaining fleet will benefit from our renewed focus on driving traffic and operating efficiency," Winston said.

The company said it will close about 40 Bed Bath & Beyond stores, and 20 stores from its other concepts.