With the resignation of its CEO Steven Temares, Bed Bath & Beyond is searching for a replacement—and a replacement strategy, too
The news was sudden but not unexpected: Bed Bath & Beyond CEO Steven Temares was resigning, an interim president was being put in place, and the troubled retailer was starting its search for a permanent successor.
BBB made interim steps, with the resignations of Eisenberg and Feinstein and other changes on the board but held that its short-term strategy would start to show positive results by 2020 and was the way to go. An overhaul of the merchandising strategy seems certain. Behind the curve in product development and direct sourcing from Asia, BBB will need to substantially up its game in those areas as its onetime market positioning as the place with the most stuff has become irrelevant in the online retail era.
How do you fix online? Internal investments have not done the trick, and this may be the time for new management to get serious. Is buying Overstock the way to go? Wayfair is probably too big to swallow, but an acquisition—the right acquisition—would get the company to the promised land faster than organic growth.
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