Bed Bath & Beyond plans to cut back on its famous coupons this year

Hold tight to any Bed Bath & Beyond coupons you have, because they might not be showing up in your mailbox as frequently.

Those familiar bright white-and-blue mailers offering promotions on the retailer's home items will be scaled back in an effort to boost profits.

For loyal shoppers who look forward to the popular coupons that have become a signature touch from Bed Bath & Beyond, not to worry -- the company says they won't completely disappear.

"Coupons are part of our DNA and will continue to be a key part of the mix in the future, but we also know that many of our shoppers want to save in different ways," Bed Bath & Beyond Chief Brand Officer Cindy Davis told "GMA."

She continued, "We've made our everyday price as competitive as possible, and introduced dynamic pricing and data-informed promotions so customers get a great deal, with or without the coupon, on the items they love."

This news comes several weeks after Bed Bath & Beyond announced early holiday deals throughout October for Beyond+ loyalty program members. The program gives members the privilege of getting 20% off anytime they make a purchase, in addition to early previews of holiday sales events as well as free standard shipping.

"Along with Beyond+, which is the secret weapon to save throughout the year, this means we'll always offer great value, an inspiring selection, and fast, easy and convenient Omni-always shopping services like BOPIS, Curbside and Same Day Delivery."

In January, the company also announced that 40 of it stores would be closing in 2020.

Bed Bath & Beyond joins Gap, Banana Republic and several other stores that have announced new strategies combined with store closures this year.