Bed Bath & Beyond will be reviewing its assets, according to an announcement by Interim Chief Executive Officer Mary Winston issued Wednesday.
The company is also looking to stabilize and drive top-line growth, reset its cost structure and refine its organizational structure. These four key “near-term priorities” are all part of a strategic plan.
“Bed Bath & Beyond is an iconic brand with tremendous opportunity and we recognize that there needs to be a fundamental change in our approach to executing the company’s business transformation,” Winston said in a statement. “The board and management team are aligned on these priorities, and we are committed to completing a deep review of the business to prioritize and drive forward the most meaningful initiatives to improve performance.
“As we execute against these near-term priorities, our focus will remain on delighting our customers and delivering long-term value for our shareholders,” she said.
The Union-based company operates retailers Cost Plus World Market, BuyBuy Baby, Christmas Tree Shops, Harmon Face Values, andThat!, PersonalizationMall and One Kings Lane, in addition to its namesake store.
The company is still searching for a permanent CEO to replace long time CEO Steven Temares, who stepped down in May after pressure from a group of activist investors.