UNION, N.J., Sept. 8, 2020 /PRNewswire/ -- Bed Bath
& Beyond Inc. (Nasdaq: BBBY) has appointed
Rick Wilkins as Regional Vice
President for the West region, effective immediately. Mr.
Wilkins will report directly to Gregg Melnick, Executive Vice
President (EVP) and Chief Stores Officer, and will play a key role
in the planning and execution of the Company's store optimization
strategy.
Mr. Wilkins will oversee operations for approximately 300 of Bed
Bath & Beyond's retail stores across 20 states, and execute the
previously announced store optimization plan as the Company
continues to enhance its digital-first, omni-always shopping
experience online and in-store. He will join a
cross-functional team responsible for implementing a suite of new
store capabilities, including further improvements to
Buy-Online-Pickup-In-Store, Curbside Pickup and same day delivery
services. The team also plans a robust reimagination of store
operations, including enhanced customer service, improved product
assortment and better communication of value in-store, as well as
expanded capacity to support faster, more efficient customer order
fulfillment in-store or at home.
Gregg Melnick said: "We are
creating a truly omni-always shopping experience to support the
digital-first shopping preferences of our customers. Our
comprehensive store network is key to the 360-degree shopping
experience we can provide, allowing customers to buy online or
through our app and enjoy contactless Curbside Pickup from one of
our stores within 2 hours of ordering. Rick is an expert retail
operator, whose deep experience driving profitable growth and an
omni-always in-store experience will help us make it even easier to
feel at home with Bed Bath & Beyond."
Mr. Wilkins joins Bed Bath & Beyond from Gap
Inc., where he was Territory Vice President for Old Navy, leading
one of the highest profit-generating territories for the brand.
Prior to his tenure at Gap Inc., Mr. Wilkins held roles
at Starbucks Coffee Company and Target Corporation, where he
executed plans to maximize store efficiency and implemented
profit-improving measures across markets.
"At a time when home is everything, I am thrilled to join this
iconic brand to serve its millions of loyal customers and help
rebuild its authority in the Home market. In this digital-first
shopping environment, stores are more important than ever to engage
and inspire, while offering a faster, more convenient shopping
experience. I'm excited to play my part in helping accelerate
the omni-always transformation of the business and finding new ways
to improve the way we serve our customers."
About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries (the "Company")
is an omnichannel retailer that makes it easy for our customers to
feel at home. The Company sells a wide assortment of domestic
merchandise and home furnishings. The Company also provides a
variety of textile products, amenities and other goods to
institutional customers in the hospitality, cruise line, healthcare
and other industries. Additionally, the Company is a partner in a
joint venture which operates retail stores
in Mexico under the name Bed Bath & Beyond.
Forward-Looking Statements
This press release contains forward-looking statements,
including, but not limited to, the Company's progress and
anticipated progress towards its long-term objectives. Many of
these forward-looking statements can be identified by use of words
such as may, will, expect, anticipate, approximate, estimate,
assume, continue, model, project, plan, goal, and similar words and
phrases, although the absence of those words does not necessarily
mean that statements are not forward-looking. The Company's actual
results and future financial condition may differ materially from
those expressed in any such forward-looking statements as a result
of many factors. Such factors include, without limitation:
general economic conditions including the housing market, a
challenging overall macroeconomic environment and related changes
in the retailing environment; risks associated with the novel
coronavirus (COVID-19) and the governmental responses to it,
including its impacts across the Company's businesses on demand and
operations, as well as on the operations of the Company's suppliers
and other business partners, and the effectiveness of the Company's
actions taken in response to these risks; consumer preferences,
spending habits and adoption of new technologies; demographics and
other macroeconomic factors that may impact the level of spending
for the types of merchandise sold by the Company; civil
disturbances and terrorist acts; unusual weather patterns and
natural disasters; competition from existing and potential
competitors across all channels; pricing pressures; liquidity; the
ability to achieve anticipated cost savings, and to not exceed
anticipated costs, associated with organizational changes and
investments, including the Company's strategic restructuring
program; the ability to attract and retain qualified employees in
all areas of the organization; the cost of labor, merchandise and
other costs and expenses; potential supply chain disruption due to
trade restrictions, and other factors such as natural disasters,
such as pandemics, including the COVID-19 pandemic, political
instability, labor disturbances, product recalls, financial or
operational instability of suppliers or carriers, and other items;
the ability to find suitable locations at acceptable occupancy
costs and other terms to support the Company's plans for new
stores; the ability to establish and profitably maintain the
appropriate mix of digital and physical presence in the markets it
serves; the ability to assess and implement technologies in support
of the Company's development of its omnichannel capabilities; the
ability to effectively and timely adjust the Company's plans in the
face of the rapidly changing retail and economic environment,
including in response to the COVID-19 pandemic; uncertainty in
financial markets; volatility in the price of the Company's common
stock and its effect, and the effect of other factors, including
the COVID-19 pandemic, on the Company's capital allocation
strategy; risks associated with the ability to achieve a successful
outcome for its business concepts and to otherwise achieve its
business strategies; the impact of intangible asset and other
impairments; disruptions to the Company's information technology
systems including but not limited to security breaches of systems
protecting consumer and employee information or other types of
cybercrimes or cybersecurity attacks; reputational risk arising
from challenges to the Company's or a third party product or
service supplier's compliance with various laws, regulations or
standards, including those related to labor, health, safety,
privacy or the environment; reputational risk arising from
third-party merchandise or service vendor performance in direct
home delivery or assembly of product for customers; changes to
statutory, regulatory and legal requirements, including without
limitation proposed changes affecting international trade; changes
to, or new, tax laws or interpretation of existing tax laws; new,
or developments in existing, litigation, claims or assessments;
changes to, or new, accounting standards; and foreign currency
exchange rate fluctuations. Except as required by law, the
Company does not undertake any obligation to update its
forward-looking statements.
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SOURCE Bed Bath & Beyond Inc.