Bed Bath & Beyond Launches New Private Label For The Home
May 31, 2022
Bed Bath & Beyond is moving forward to complete its goal of launching over 10 private labels despite a slowdown in the home goods category.
When the retailer initially announced its plan in October 2020, the overall home sector was booming as consumers invested more in the spaces they were spending the majority of their time in. But as consumers began feeling more comfortable leaving their homes, helped by the widespread availability of vaccines, spending started to shift away from the home and to other areas like dining out and entertainment.
CEO Mark Tritton last month remained confident in the retailer’s plan to introduce additional private labels and said that it may even bode well for Bed Bath & Beyond as consumers become more cautious about spending.
“Through our owned brands, we introduced a new suite of products to differentiate Bed Bath & Beyond, while also creating new opening price points to remain competitive, especially now in light of inflation pressures,” Tritton said on a call with analysts discussing fourth quarter results.