Bed Bath & Beyond Shares Rise After Company Says Target's CMO Will Take Over
By Allison Prang
Bed Bath & Beyond Inc. (BBBY) shares rose 25% Thursday, a
day after the company said it was bringing in Target Corp.'s (TGT)
head of merchandising as its new chief executive officer.
The retailer said Wednesday that on Nov. 4, Mark Tritton will
take over as president and CEO. The company's last CEO resigned
earlier this year as Bed Bath & Beyond was pressured by
activist investors to make changes at the company. Mary Winston has
been Bed Bath & Beyond's interim CEO and the retailer said she
will stay on its board.
Shares of Bed Bath & Beyond have climbed 10% year to date
and have increased 8.1% in the last three months.
Write to Allison Prang at firstname.lastname@example.org
(END) Dow Jones Newswires
October 10, 2019 09:55 ET (13:55 GMT)
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