Bed Bath & Beyond Unveils Its Turnaround Strategy
Shares of Bed Bath & Beyond (NASDAQ: BBBY) have soared over the past year, bucking the trend experienced by many brick-and-mortar retailers. Investors have been growing steadily more optimistic that new CEO Mark Tritton -- who took the helm in late 2019 -- will be able to change the company's fortunes following years of stagnant sales and margin erosion.
Last week, Tritton and his management team finally laid out a comprehensive turnaround plan for the iconic retailer. The plan seems very sensible and should drive improved performance relative to Bed Bath & Beyond's dismal pre-pandemic trajectory. However, it's not clear yet whether these moves will be enough to offset the competitive headwinds the company faces.
One big change Bed Bath & Beyond revealed at its virtual investor day is that it is aggressively addressing customer perceptions that it is overpriced.
Source Fool.com
