Home / Knowledge / News / Retail / Strategic restructuring programme at Bed Bath & Beyond

Strategic restructuring programme at Bed Bath & Beyond

04
Mar '20
Pic: Shutterstock
Pic: Shutterstock
US omni-channel retailer Bed Bath & Beyond recently announced a strategic restructuring programme to rebuild its foundation and create a sustainable, durable business model. The programme includes a reorganisation and simplification of its field operations, significant reduction in management positions and outsourcing of several functions.

The company commenced a workforce reduction affecting nearly 500 positions. This is a major pivot in its plan to realise several hundred million dollars of cost saving opportunities over the long-term, the company said in a press release.

The overall restructuring program is expected to reduce annual selling, general and administrative expense (SG&A) expense by approximately $85 million, as part of a strategic realignment to create greater focus on the company's core business and initiatives designed to enhance customer experience, drive sales and position it for long-term success.

Reinforcing its preliminary strategic plan, which includes action across five strategic pillars—product, price, promise, place and people, the company has been conducting a comprehensive review of its business to determine ways to drive efficiency and effectiveness.

The company is now taking steps to reconstruct and modernise its operating model, accelerating its transformation and balancing near-term priorities to generate savings while reinvesting for future growth.

The restructuring program consists of a reset of the cost structure that will simplify and remove spans and layers of management to bring the company in line with industry best practice; remove duplicative or redundant roles to streamline the organisation; reduce and realign regional zones to simplify and restructure field operations; and outsource several functions to allow the company to focus on core competencies.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Polygiene

Apparel/Garments | On 2nd Apr 2020

Polygiene launches ViralOff, a sanitiser for garments

Swedish odour control technology company Polygiene has launched...

Pic: JNCASR

Textiles | On 2nd Apr 2020

Indian researchers make coating to kill virus like COVID

A one-step curable anti-microbial coating, which when coated on...

Pic: Shutterstock

Apparel/Garments | On 2nd Apr 2020

FDA issues new policy for surgical apparel during crisis

The US Food and Drug Administration (FDA) issued an immediate...

Interviews View All

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Alessandro Marengo,

Alessandro Marengo

Founded in 1974, Italian firm Zaitex SpA is one of the leading suppliers...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search