The stock rose $2.40, or 24%, to $12.34 in after-hours action.
Tritton was previously executive vice president and chief merchandising officer at Target (TGT - Get Report) . He has prior experience at Nordstrom, Inc. (JWN - Get Report) , Nike, Inc. (NKE - Get Report) and Timberland. He is slated to take up his new position on Nov. 4.
"There is immense opportunity ahead for Bed Bath & Beyond, which remains one of the most recognizable and best loved retailers in the country today," Tritton said in a statement.
Bed Bath & Beyond has been caught up in the many challenges facing brick-and-mortar retailers faced with ever growing competition from online rivals like Amazon.com, Inc. (AMZN - Get Report) . Its shares have fallen more than 80% since peaking above $80 six years ago.
The company announced a round of 40 store closings in April.
In May, long-serving CEO Steven Temares stepped down under pressure from activist investors.
Amazon.com is a holding in Jim Cramer's Action Alerts PLUS member club.