On the heels of announcing its restructuring plan in February in order to simplify operations and cut costs, Bed Bath & Beyond has accelerated its digital-first, omni-always transformation as it battles the changing face of retail due in part to the COVID-19 pandemic.
As part of an Investors Day when it will be detailing strategic growth plans, Bed Bath & Beyond declared that it is communicating a clear customer value proposition to deepen connections with core customer segments while outlining the financial path the company is planning for the next three years.
Mark Tritton became Bed Bath & Beyond’s new president and CEO late last year and immediately faced the challenge of extending a turnaround strategy initiated by the board of directors but under the influence of new executives he brought on board soon after arriving.
Nordstrom has appointed two new members to its board of directors: Jim Donald, co-chairman of Albertsons board of directors and Mark Tritton, president and CEO of Bed Bath & Beyond.
To simplify operations and cut costs, Bed Bath & Beyond has kicked off a strategic restructuring program that will include outsourcing and the elimination of 500 positions.
Bed Bath & Beyond has revealed its fiscal 2020 capital allocation strategy, including an estimated $1 billion spend balanced across capital return to shareholders, debt reduction, and reinvestment in the company’s core business operations.
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.
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.
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.
Another chapter in the ongoing Bed Bath & Beyond saga of reinvention has been written with the hiring of former Target executive Mark Tritton as the home specialty store’s new president/CEO.
Target has named Michael Fiddelke evp/chief financial officer, effective November 1. The retailer also updated its merchant leadership following Mark Tritton joining Bed Bath & Beyond as CEO.