Business
Letter to Shareholders and Stakeholders from Marcus Lemonis, Executive Chairman and Chief Executive Officer of Bed Bath & Beyond
MURRAY, Utah--(BUSINESS WIRE)--Bed Bath & Beyond, Inc. (NYSE:BBBY) has issued the following letter from Marcus Lemonis, Executive Chairman of Bed Bath & Beyond:
About this update from Bed Bath & Beyond, Inc.
[{"type":"text","content":" MURRAY, Utah--(BUSINESS WIRE)--Bed Bath & Beyond, Inc. (NYSE:BBBY) has issued the following letter from Marcus Lemonis, Executive Chairman of Bed Bath & Beyond: To Shareholders and Key Stakeholders of Bed Bath & Beyond, For over 55 years, Bed Bath & Beyond has been a beloved and trusted retail brand. People understand the Bed. They understand the Bath. But even in pop culture, yes, even in movies and television, few could explain the “Beyond” part of our name. Many assumed it simply meant “everything else in the store.” “Beyond” means something far more than retail. It stands for our commitment to support the family, the four corners of their property and the four walls of their home. It includes providing Beyond Home Products and Services, Beyond Home Operating Systems, Home Transaction Platforms, Beyond Home Financial and Protection Products, Home Renovation and Maintenance Programs. Today, I have decided to accept the position of Chief Executive Officer in addition to serving as the Executive Chairman of the Board of Bed Bath and Beyond, Inc. My reason is simple yet ambitious. I want to make owning, living in, and caring for a home easier, less expensive, and more rewarding for all. We serve both the individual and the physical home, sometimes simultaneously, sometimes independently. I have always felt that home ownership is a bedrock of the American Dream. Whether someone is renting their first apartment, living in student housing, buying their first home, or settling into a forever home, we want Bed Bath & Beyond to be associated with making those journeys more achievable, more affordable, and less overwhelming. Housing remains one of the most important and emotionally charged areas in America’s economy. Over the last several years, new home buying has faced pressure from higher interest rates, rising building costs, and constrained supply, creating significant pressure. As we expand outside of purely transactional retail into revenue sources such as home services, home transaction platforms, home staging and improvement, protection and financial tools, we believe we will be able to prosper through housing cyclicality. OUR NORTH STAR Bed Bath and Beyond is becoming the “Everything Home Company,” built around customers and the way life happens. Homes are not static. While the home itself is an anchor ass...