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Bed Bath & Beyond Closing 150 Retail Stores

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Although Sue Gove is currently at the helm as director and interim CEO, the company is actively searching for its next CEO. As part of the ongoing shifts, the company has eliminated the chief operating officer and chief store officer roles. John Hartmann and Gregg Melnick will be departing the company.

“We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns. In a short period of time, we have made significant changes and instituted enablers across our entire enterprise to regain our dominance as a preferred shopping destination for our customers’ favorite brands and exciting products,” said Gove. “We command a special presence in the Home and Baby markets, and we intend to fulfill our opportunity to be the category retailer of choice.”

The company has tapped Mara Sirhal as executive vice president and brand president, and has promoted Patty Wu to EVP and president of buybuy BABY. Under the brand president roles, both individuals will oversee each banner’s merchandising, planning and allocation, brand marketing, and stores. These roles will report to Gove.

Sirhal was most recently the company’s EVP and chief merchandising officer for the Bed Bath & Beyond banner. She joined the company in January 2021 as SVP and general manager for Harmon, leading operational business strategies. Sirhal has been in the retail industry for nearly 20 years across merchandising, product development, planning, digital, inventory management, supplier diversity, and leased businesses at Macy’s, Inc.

Wu joined the company in January 2021, most recently serving as buybuy BABY’s SVP and general manager. Prior to this role. Wu held several executive leadership positions across retail and business, including chief commercial officer of Beautycounter, chief commercial officer and general manager of the Baby Division at The Honest Company, and senior management roles at Mattel, Inc. and Walmart.  

“We are working swiftly and diligently to strengthen our liquidity and secure our path for the future. We have taken a thorough look at our business, and today, we are announcing immediate actions aimed to increase customer engagement, drive traffic, and recapture market share,” said Gove. 

“This includes changing our merchandising and inventory strategy, which will be rooted in National Brands. Additionally, we are focused on driving digital and foot traffic, as well as optimizing our store fleet. We believe these changes will have a widespread positive impact across customer experience, inventory assortment, supply chain execution and cost structure,” added Gove. “The customer underpins our decisions, and we are committed to delivering what they want while driving growth, profitability, and financial returns.”

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