Bed Bath & Past on Thursday named a new main accounting officer, marking an additional leadership adjust as the retailer struggles with plunging sales.
The enterprise claimed Laura Crossen will choose more than as the senior vice president of finance and main accounting officer, replacing John Barresi, who resigned before this thirty day period just after stepping into the position in May of final 12 months. Crossen has been with the company due to the fact 2001, most not long ago as senior vice president of treasury, tax and finance transformation.
The change comes a working day immediately after Mattress Tub mentioned it was replacing CEO Mark Tritton, a Concentrate on veteran who experienced been doing the job to acquire back shoppers and mature the firm’s on-line product sales due to the fact joining in 2019. Mattress Bathtub & Past named Sue Gove, an unbiased director on the board, as interim CEO and stated it can be functioning to obtain a long lasting substitution.
Mattress Bath & Past also said Thursday that it named Susie A. Kim as senior vice president of treasury and investor relations, using above Crossen’s prior treasury purpose.
The management adjustments occur right after Mattress Bathtub & Beyond noticed its product sales fall to $1.46 billion in its most new quarter ended May possibly 28, down from $1.95 billion a calendar year in the past. The business claimed it expects exact-retail store gross sales to recover in the next 50 percent of the fiscal year, but did not provide a certain forecast.
Bed Tub has hired Berkeley Research Team, a retail advising agency, to analyze its balance sheets and inventory. It is also operating with Russel Reynolds to find a everlasting CEO.
Shares of the company are down far more than 65% so significantly this yr.
— CNBC’s Melissa Repko contributed to this report.