Bed Bath & Beyond stock soars as Target exec tapped as CEO

Bed, Bath & Beyond has tapped retail veteran Mark Tritton as its new CEO.

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Tritton joins the home big box store from Target where he was executive vice president and chief merchandising officer with oversight for all of Target’s enterprise buying, sourcing, product design and development, visual merchandising and merchandising operations. He joined Target in 2016.

Mark Tritton, Bed Bath & Beyond CEO

Shares soared on Thursday over 20 percent following the announcement.

TickerSecurityLastChangeChange %
BBBYBED BATH & BEYOND INC.11.98-0.31-2.52%

Long-time CEO Steven Temares left Bed, Bath & Beyond in May amidst the retailer's struggles. Tritton succeeds interim CEO Mary Winston.

During his more than 30-year career, Tritton also had executive roles with Nordstrom, Timberland and Nike.

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Recently the company revealed plans to close 60 stores by the end of fiscal 2019. Bed, Bath & Beyond will account for about 40 of the closings, with the balance from its other owned properties: Christmas Tree Shops, World Market, and buybuy Baby.