Bed Bath & Beyond names new chief accounting officer in latest executive change as sales plunge

Bed Bathtub & Further than on Thursday named a new main accounting officer, marking one more leadership adjust as the retailer struggles with plunging income.

The company said Laura Crossen will acquire more than as the senior vice president of finance and main accounting officer, changing John Barresi, who resigned before this month immediately after stepping into the job in May of previous calendar year. Crossen has been with the business considering that 2001, most a short while ago as senior vice president of treasury, tax and finance transformation.

The alter arrives a day following Bed Bathtub explained it was changing CEO Mark Tritton, a Goal veteran who had been doing the job to acquire back prospects and increase the company’s on-line gross sales considering the fact that signing up for in 2019. Mattress Bathtub & Beyond named Sue Gove, an unbiased director on the board, as interim CEO and claimed it’s operating to uncover a long term alternative.

Bed Bathtub & Outside of also mentioned Thursday that it named Susie A. Kim as senior vice president of treasury and investor relations, taking more than Crossen’s preceding treasury job.

The management improvements arrive just after Bed Bathtub & Beyond saw its revenue tumble to $1.46 billion in its most modern quarter ended May well 28, down from $1.95 billion a year back. The organization mentioned it expects exact-retail outlet profits to recover in the 2nd half of the fiscal yr, but did not present a precise forecast.

Mattress Bathtub has hired Berkeley Exploration Team, a retail advising agency, to take a look at its balance sheets and stock. It is also functioning with Russel Reynolds to obtain a permanent CEO.

Shares of the enterprise are down far more than 65% so considerably this yr.

— CNBC’s Melissa Repko contributed to this report.