Bed Bath & Beyond CEO: AI will lead to ‘significant reduction in headcount’
Areas impacted at the retailer could include supply chain, IT, accounting, marketing and merchandising, Marcus Lemonis told analysts Monday.
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Bed Bath & Beyond operating chief out as Marcus Lemonis takes on CEO role
Lemonis outlined a plan that moves the company beyond retail and into insurance, financial tools and “mortgage related solutions.”
Bed Bath & Beyond will operate stores in California after all
The company will run a dozen combined The Container Store and Bed Bath & Beyond store formats in the state, despite Marcus Lemonis’ previous stance.
Target requires 150 remote merchandising employees to relocate
Impacted employees can move to the retailer’s Minneapolis HQ or leave the company. Target hopes that in-person collaboration will help it regain merchandising authority.
Bed Bath & Beyond agrees to acquire The Container Store for $150M
Stores will rebrand as “The Container Store / Bed Bath and Beyond” and the Elfa and Closet Works units will anchor a home services division.
Bed Bath & Beyond’s first co-branded store with The Container Store will open Saturday
The location in Fort Worth, Texas, comes just over a month after Bed Bath & Beyond announced plans to acquire the organizational retailer.