- Amazon Didnít Cripple Bed Bath & Beyond. Its Own Leaders Did.
- Bed Bath & Beyond shakes up board amid investor pressure, co-founders step down
- CNBC Global CFO Council
Amazon Didnít Cripple Bed Bath & Beyond. Its Own Leaders Did.
In order to properly represent the size increase in its retail stores, the company changed its name to Bed Bath & Beyond inand watch handmaids tale season 1 episode 4 online free red bull crashed ice fenway
They may not have the name recognition with the general buying public of a Jeff Bezos or Sam Walton, but Warren Eisenberg and Len Feinstein will go down as two of the most brilliant, innovative and successful retailers in the history of the industry. Curiously, throughout that entire announcement, current CEO Steven Temares was mentioned only as an ongoing board member, and none of the statements from the company were attributed to him. For Eisenberg and Feinstein, the end comes after one of the longest runs in retailing history. Veterans of a long-gone regional discounter in the Northeast, the two went into business for themselves in the s. Notoriously tight-lipped and rarely giving interviews to the press, Eisenberg and Feinstein once confided in an interview with this reporter the realization of the principle that defined their success later on: Bed and bath textiles were a destination purchase, but housewares drove the regular traffic needed to make the business work. With that transformation, BBB was off on a decades-long run of incredible success, opening 50 or 60 stores a year and becoming the go-to retailer for the category.
BBBY 2. But the crisis was decades in the making. Its leaders built a superstore for housewares, with more than 1, locations that had so much merchandise that products hung from the ceiling. But they were ill-equipped, former employees say, to transition to a world where consumers can access thousands of items by tapping a smartphone screen. For the reconfigured board , which includes nine new directors, and a yet-to-be named chief executive, the biggest challenge will be to overhaul the company quickly enough. People close to the company say the brand still holds sway with consumers and that the new directors have retailing and e-commerce experience that was lacking in the past. It has no shortage of tasks to oversee, from streamlining inventory, reducing costs, updating marketing and modernizing stores to investing in technology and reviewing the potential sale of assets.
It is also counted among the Fortune and the Forbes Global By , Eisenberg and Feinstein were operating 17 stores in the New York metropolitan area and California. Also in , the first superstore was opened, as an attempt to remain competitive with Linens 'n Things , Pacific Linen , and Luxury Linens. On April 13, there was a report that the chain will close 40 stores but open 15 new locations. The company, which has for decades used coupon mailers and other promotional discounting tactics to attract consumers, also announced in April that it would reduce its use of promotional coupons and tighten restrictions on their use.
Bed Bath & Beyond shakes up board amid investor pressure, co-founders step down
The Company's customers can purchase products from the Company either in-store, online, with a mobile device or through a contact center. The Company also operates Linen Holdings, a provider of a range of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. - Bed Bath and Beyond's executive board is getting a makeover.
CNBC Global CFO Council
Key Dates:. The company has a chain of over stores that sell such domestic merchandise as bed linens, bath accessories, kitchen textiles, cookware, dinnerware, kitchen utensils, small electric appliances, and basic home furnishings. Throughout the company's short history, bigger has proven to be better. The company expanded rapidly in the early s on the strength of the superstore concept. Store count continues to grow at a rapid clip and in , the company recorded its eighth consecutive year of record earnings.