Bed Bath & Beyond suffered a rough third quarter, with earnings dipping into the red, but in his first conference call as the company’s CEO, Mark Tritton provided his view of how the company would turn things around, including an expansion of in-store pickup and the launch of a new vendor collaboration program.
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CEO Mark Tritton has taken the reins at Bed Bath & Beyond, only recently restructuring the retailer’s executive leadership, in time to report that third quarter results slipped into the red.
As part of its real estate reevaluation, Bed Bath & Beyond has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, generating more than $250 million in net proceeds.
Bed Bath & Beyond is making an extensive restructure of its leadership team, including the departure of six senior members. The move reflects the priorities of new president and CEO, Mark Tritton, who will launch his new vision for the company in early 2020.
Herman Miller, a global designer and furniture manufacturer and retailer, has named Debbie Propst as president, Herman Miller retail. Propst joins Herman Miller from Bed Bath & Beyond, where she served most recently as president of One Kings Lane, as well as the chief brand officer of Bed Bath & Beyond.
Bed Bath & Beyond is launching its first-ever national television and radio advertising campaign to highlight the retailer’s Black Friday savings event, which is offering its lowest prices of the season and for the first time ever, a 25% off entire purchase in-store only coupon.
For its three-day Black Friday promotional event, beginning November 28, Bed Bath & Beyond will, for the first time, offer customers a 25% off entire purchase in-store only coupon.
Bed Bath & Beyond has received Executive Women of New Jersey’s (EWNJ) 2019 Corporate Board Gender Diversity Award in recognition of the company’s impactful level of gender inclusion by having three or more women on its board of directors.
I’ve been known to drop a sports metaphor in this space from time to time (the former sportswriter in me breaking loose). So, please indulge me if the hiring of Mark Tritton as Bed Bath & Beyond’s president and CEO had me thinking of all the Major League Baseball teams currently interviewing for a new manager.
As it continues development of private labels, Bed Bath & Beyond has launched its first children’s furnishings own brand, Marmalade.
Calphalon has launched the Calphalon ActiveSense blender, which is said to precisely blend on its own with the help of five preset food settings for commonly blended foods and drinks including smoothies, salsas, milk shakes, juices, and frozen beverages.
Bed Bath & Beyond has reported mixed second quarter results, including the closure of 60 stores, asserting that its turnaround initiatives have improved its financial condition. However, questions remain over when the retailer will select its new CEO and if any significant assets will be divested.
Bed Bath & Beyond has launched a new wedding registry category, Gift Experiences. In an exclusive partnership with experience platform Vebo, new and current registrants at Bed Bath & Beyond can now select and add Gift Experiences to their registry for more than 300 memorable experiences, in addition to adding items from the retailer’s product assortment.
In a second private label home furnishings launch, Bed Bath & Beyond has introduced the One Kings Lane Open House collection.
In a letter to shareholders sent by board chairman Patrick Gaston and interim CEO Mary Winston, Bed Bath & Beyond stated it was advancing on its strategic objectives including consolidation of non-core business at a time when there is speculation that the company will begin to sell at least some assets.
Bed Bath & Beyond will continue to evaluate ways to cut costs as it reviews the company’s portfolio of retail banners. But the retailer will continue to invest in its core business including store operations, omnichannel functions and integration, and advertising to continue serving the loyal core customer base and to “broaden the tent” particularly to draw younger shoppers, Mary Winston, the company’s interim CEO, said at the corporate annual meeting.
Interim CEO Mary Winston laid out management’s priorities for Bed Bath & Beyond in a quarter that features sliding comps and a net loss.
After continued pressure from an activist investor group, Bed Bath & Beyond has announced the departure of long-time CEO Steven Temares.