“Our performance in the third quarter was unsatisfactory and underscores the imperative for change and strengthens our sense of priorities and purpose,” recently appointed CEO Mark Tritton—the former chief merchandising officer at (TGT) (TGT)—said in Wednesday’s announcement. Bed Bath & Beyond has emerged as somewhat of a battle stock in recent months.The retailer was the target of a trio of activist hedge funds last spring who claimed Bed Bath & Beyond “lost touch with modern retail.” Since then Bed Bath & Beyond revamped its board, trimmed its leadership ranks, and eventually replaced its CEO with Tritton. Some believe that under the leadership of Tritton, Bed Bath & Beyond can retool and win back customers who abandoned the retailer in favor of (AMZN) (AMZN) and other options. Read More...
“Our performance in the third quarter was unsatisfactory and underscores the imperative for change and strengthens our sense of priorities and purpose,” recently appointed CEO Mark Tritton—the former chief merchandising officer at (TGT) (TGT)—said in Wednesday’s announcement. Bed Bath & Beyond has emerged as somewhat of a battle stock in recent months.The retailer was the target of a trio of activist hedge funds last spring who claimed Bed Bath & Beyond “lost touch with modern retail.” Since then Bed Bath & Beyond revamped its board, trimmed its leadership ranks, and eventually replaced its CEO with Tritton. Some believe that under the leadership of Tritton, Bed Bath & Beyond can retool and win back customers who abandoned the retailer in favor of (AMZN) (AMZN) and other options.
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