Does Bed Bath & Beyond's Clean Sweep Signal Tough Times Ahead?
It didn't take Mark Tritton, the new CEO at Bed Bath & Beyond (NASDAQ: BBBY), very long to get everyone's attention. Just two months into his new job, the massive purge of a half-dozen executives has shown everyone it's no longer business as usual at the home goods retailer.
Yet as Bed Bath & Beyond heads into its fiscal third-quarter earnings report next week, the wholesale elimination of the C-suite suggests that Tritton, a former Target executive, saw the pending results as an indication the holidays were going to woefully underperform expectations. If he wanted to salvage the retailer, he needed to start fresh.
Will Bed Bath & Beyond investors toss and turn when they hear the retailers' latest results? Image source: Getty Images.
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