After 50 Years Of Business Bed Bath & Beyond May Be Beyond HelpBed Bath & Beyond is ditching its CEO after another lacklustre quarter that saw the ailing retailer's sales drop by 25% relative to this time last year.
After 3 years at the helm, the strategy of outgoing CEO Mark Tritton — who had focused on switching out branded goods for private-label products and cleaning up crowded stores — just hasn't worked. The once venerable retailer may not be bankrupt yet, but time is against the company, and investors don't appear to be holding much faith — the company's share price is down 68% this year and the market cap of the company is now
just $400m, a tiny fraction of the $5-7bn in sales the company is likely to record this year.
just $400m, a tiny fraction of the $5-7bn in sales the company is likely to record this year.
