Monday, October 7, 2019

Bed Bath & Beyond to cut $1B in inventory, hundreds of millions in cost as more stores close

Retail Dive
After raising its number of expected store closures from 40 to 60, cost-cutting is the order of the day at Bed Bath & Beyond. In addition to staffing cuts and sourcing changes, the retailer is looking to rid itself of excess inventory fast through markdowns, clearance sales and liquidation avenues.

 CEO Mary Winston said $350 million of store inventory should be clear before the 2019 holiday season. To optimize this inventory off-load the company is employing "markdown optimization software" to speed the process.. . . more