![]() ![]() Plus, he said, Bed Bath wound up compounding Covid pandemic-related supply chain issues. "If they rolled out those brands at a more measured pace and layered them in and the customer got a little more familiar with seeing them on the shelf, it would have been more successful," he said. It also phased out its popular 20%-off coupons, a move that it has since reversed. Jason Haas, a retail analyst at Bank of America Securities, said the retailer alienated its customers by moving too quickly. Fast change, alienated customersĪfter the company's most recent earnings report in late June, board member and interim CEO Sue Gove said the company's sales results were "not up to our expectations." Same-store sales plummeted 27% for the Bed Bath & Beyond banner in the most recent quarter, ended May 28. Instead of seeing large displays of big-name national brands, they saw displays of bedding, furniture and platterware under a name that they didn't recognize. Yet some shoppers found the new brand names disorienting - and less appealing. One was Wild Sage, a brand that the company described as "stylish, eclectic, free-spirited bedding, decor, furniture, bath products and table linens created for young adults (and the young at heart)." The first collection launched in June 2021, just in time for back-to-college season. He oversaw the decluttering of stores and the debut of lines of bedding, kitchen supplies and more that couldn't be found anywhere else.īed Bath launched nine private labels starting in spring 2021. Tritton, a Target veteran, joined Bed Bath in 2019 and rolled out a playbook similar to the one used by the cheap chic retailer. ![]() Private labels became a central piece of Tritton's vision and a dominant part of Bed Bath's stores. Its spokeswoman did not say whether the company is considering phasing out other private brands. "At the same time, we recognize our customers want a better balance of owned and national brands, and are making necessary changes to the assortment to improve the customer experience and drive sales and traffic."īed Bath said it will provide more updates to its strategy this month. "Customer response has been positive, and we are very pleased with the strength of several owned brands, such as Simply Essential, which delivers opening price points," the company said. In a company statement, Bed Bath & Beyond said private labels - which it calls "owned brands" - "have a place in our assortment." Its chief accounting officer also departed in June. The retailer has run into inventory and supply chain problems, initially missing out on hundreds of millions of dollars of sales due to out-of-stock items and, more recently, a glut of unwanted products lingering in warehouses and on store shelves.īed Bath is also looking for a new leader, after the board announced in late June that CEO Mark Tritton and Chief Merchandising Officer Joe Hartsig had left the company. The move is likely just the start of bigger changes for Bed Bath and its merchandising approach as it tries to reverse declining sales, appease activist investors and win back shoppers. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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