Bed Bath & Beyond Had a Dismal Fourth Quarter
Bed Bath & Beyond’s new CEO Mark Tritton is asking for patience from investors. Holiday sales fell 5.4%, while margins narrowed, sending shares to a four-month low. Though Tritton still expressed confidence in the company’s turnaround plan, he stressed that the strategy will take time.
“We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges,” Tritton said.