Continuing a shakeup begun when six executives were let go last month by the new CEO, Bed Bath & Beyond plans to sell half its real estate assets, including its headquarters and an unknown number of its 1,500 stores, to a private equity firm, the Wall Street Journal is reporting.
Just a month into the job from Target, new Bed Bath & Beyond CEO Mark Tritton has let go six executives as part of a major shakeup at the struggling home goods retailer after years of negative results. Tritton saw great success as chief merchandising officer at Target, launching private label brands, some now north of $1 billion.
American Apparel, facing mounting debt, declining sales and cash issues, said it may not be in operation a year from now as it released poor Q2 financials.