Bed Bath & Beyond Taps New Supply-Chain Head - Shares Up

Bed Bath & Beyond on Monday appointed Juan Guerrero to optimize its supply-chain operations. The home-goods retailer shares are up.
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Bed Bath & Beyond  (BBBY) - Get Report stock rose on Monday after the home-goods retailer appointed Juan Guerrero to head its supply-chain operations.

The shares of the Union, N.J., company rose 5.8% to $12.73 at last check. The stock was off 30% in 2020 through the close of Friday's trading.

Guerrero joins as senior vice president and chief supply-chain officer at Bed Bath and Beyond. He will report to John Hartmann, chief operating officer of the parent and president of its buybuy Baby subsidiary.

"Juan's experience implementing supply chain optimization and omnichannel distribution strategies at some of the world's leading retailers will enable us to accelerate our work to rebuild our authority," Hartmann said in a statement.

Prior to joining Bed Bath, Guerrero led the supply-chain and merchandising teams at Fleet Pride, the Irving, Texas, distributor of truck equipment.

Before that he was chief global supply-chain officer at Bloomin' Brands, BLMN the Tampa, Fla., restaurant operator. There he managed a complete supply chain revamp to strengthen productivity and cash flow.

"Together with the leadership team, we expect to improve operational performance with strategic relationship management, responsible procurement, and targeted investment," said Guerrero.

Guerrero will lead operational efficiency at a time when the company has been making major changes under Chief Executive Mark Tritton, who took the helm last November.

In July, the retailer reported a revenue decline of 49% for the quarter ended May 30 compared with the year-earlier period. That result was weaker than analysts had expected. 

In August the retailer cut 2,800, or about 5%, of its employees.

 

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