Bed Bath & Beyond Is Discontinuing a Private Brand as It Tries to Reverse Declining Sales

The retailer had made an aggressive push into exclusive brands and touted them as a linchpin of its turnaround strategy.

and rolled out a playbook similar to the one used by the cheap chic retailer. He oversaw the decluttering of stores and the debut of lines of bedding, kitchen supplies and more that couldn't be found anywhere else.the company described as

After the company's most recent earnings report in late June, interim CEO and board member Sue Gove said the company's sales results were"not up to our expectations." Plus, he said, Bed Bath wound up compounding pandemic-related supply chain issues. Nearly every retailer coped with congested ports and trucking shortages, but private label merchandise tends to have longer lead times since it's produced and shipped from overseas. National brands tend to have merchandise that can get to stores more quickly from U.S. warehouses, Haas said.

Bed Bath reported roughly $108 million in cash and equivalents as of May 28, down from $1.1 billion a year prior. Its net losses swelled to $358 million from a loss of $51 million in the same period in 2021.

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