In 2020, Bed Bath & Beyond appeared to be hitting its stride in its turnaround effort: remodeling stores, introducing private labels, overhauling its C-suite and selling off underperforming banners. The retailer, like others selling home goods, was boosted by heightened demand during the onset of the pandemic as consumers actively sought out new products for their homes. With Target veteran Mark Tritton at the helm, Bed Bath & Beyond was poised to succeed. But in its most recent quarter, the retailer reported net sales fell 25% year over year, while comparable sales fell 23%. Its losses also grew: Operating loss increased by over $265 million and net loss widened by more than $300 million.

How did this happen? Retail Drive takes an in-depth look at the challenges that Bed Bath & Beyond has faced as well as what it will take, and what type of leader the retailer will need to turnaround its fate and steer clear of bankruptcy. 

To read the full article, visit the Retail Dive website. 

Source: Retail Dive