Bed Bath & Beyond Inc. Appoints Juan Guerrero As Chief Supply Chain Officer

UNION, N.J.
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UNION, N.J., Sept. 14, 2020 /PRNewswire/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY) has appointed Juan Guerrero as Senior Vice President (SVP), Chief Supply Chain Officer, effective immediately. Mr. Guerrero will report directly to Chief Operating Officer (COO) and President of buybuy BABY, John Hartmann, and be responsible for leading the transformation and optimization of the Company's global supply chain network.

Mr. Guerrero will lead Bed Bath & Beyond's work to reconstruct and modernize supply chain operations as it further improves the omni-always shopping experience for customers. This will include supporting strategic sourcing and the introduction of an array of owned brands, securing faster, more efficient delivery through an optimized store fulfillment network, and driving profitability improvements through the supply chain. Mr. Guerrero will lead a cross-functional team to improve the Company's logistics proficiencies and rebuild supply chain infrastructure systems, while leveraging data and analytics to transform and optimize technology, procurement, expenses and network operations.

COO John Hartmann said, "Our digital-first customers rely on us to deliver a faster, more convenient and omni-always shopping experience, with a strong assortment of customer-inspired products delivered with clear, compelling value. Juan's experience implementing supply chain optimization and omni-channel distribution strategies at some of the world's leading retailers will enable us to accelerate our work to rebuild our authority as we make it even easier to feel at home with Bed Bath & Beyond."

Prior to joining Bed Bath & Beyond, Mr. Guerrero led the supply chain and merchandising teams at FleetPride, before which he was Chief Global Supply Chain Officer at Bloomin' Brands, where he managed a complete supply chain transformation to enhance productivity and cash flow for the global restaurant company.  Mr. Guerrero also previously led the supply chain function at Office Depot and held senior global logistics and supply chain roles at Starbucks Coffee Company, where he oversaw a logistics network that supported over 16,600 retail and licensed locations.

Mr. Guerrero said, "I am thrilled to join Bed Bath & Beyond and play my part in accelerating this iconic company's omni-always transformation. Together with the leadership team, we expect to improve operational performance with strategic relationship management, responsible procurement, and targeted investment to deliver for our customers the truly differentiated array of products they want, when they want, where they want."

About Bed Bath & Beyond Inc.

Bed Bath & Beyond Inc. and subsidiaries (the "Company") is an omnichannel retailer that makes it easy for our customers to feel at home. The Company sells a wide assortment of domestic merchandise and home furnishings. The Company also provides a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, the Company's progress and anticipated progress towards its long-term objectives. Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, goal, and similar words and phrases, although the absence of those words does not necessarily mean that statements are not forward-looking. The Company's actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; risks associated with the novel coronavirus (COVID-19) and the governmental responses to it, including its impacts across the Company's businesses on demand and operations, as well as on the operations of the Company's suppliers and other business partners, and the effectiveness of the Company's actions taken in response to these risks; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors across all channels; pricing pressures; liquidity; the ability to achieve anticipated cost savings, and to not exceed anticipated costs, associated with organizational changes and investments, including the Company's strategic restructuring program; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to trade restrictions, and other factors such as natural disasters, such as pandemics, including the COVID-19 pandemic, political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company's plans for new stores; the ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets it serves; the ability to assess and implement technologies in support of the Company's development of its omnichannel capabilities; the ability to effectively and timely adjust the Company's plans in the face of the rapidly changing retail and economic environment, including in response to the COVID-19 pandemic; uncertainty in financial markets; volatility in the price of the Company's common stock and its effect, and the effect of other factors, including the COVID-19 pandemic, on the Company's capital allocation strategy; risks associated with the ability to achieve a successful outcome for its business concepts and to otherwise achieve its business strategies; the impact of intangible asset and other impairments; disruptions to the Company's information technology systems including but not limited to security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; reputational risk arising from challenges to the Company's or a third party product or service supplier's compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements, including without limitation proposed changes affecting international trade; changes to, or new, tax laws or interpretation of existing tax laws; new, or developments in existing, litigation, claims or assessments; changes to, or new, accounting standards; and foreign currency exchange rate fluctuations. Except as required by law, the Company does not undertake any obligation to update its forward-looking statements.

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SOURCE Bed Bath & Beyond Inc.