Bed Bath & Beyond CEO ousted as sales
collapse 27%
Posted By: NorthernDog, 6/29/2022 9:35:35 AM
Bed Bath & Beyond (BBBY) is giving its turnaround CEO the boot after delivering anything but a turnaround. The struggling retailer said Wednesday CEO Mark Tritton is leaving the company and the board, effective immediately. Board member and retail veteran Sue Gove is taking over the retailer on an interim basis. (Snip) Bed Bath saw same-store sales crash 27% at its namesake brand as shoppers pulled back on discretionary purchases while also shunning a more upscale push with fewer coupons at the company. Adjusted operating profits came in at a loss $224 million. The company ended the quarter with a
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Comments:
You may recall that Bed Bath & Beyond loudly announced they were canceling sales of MyPillow. A lot of good that did them - sales have plummeted!