Dive Brief:
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To strengthen its merchandising position, Bed Bath & Beyond on Thursday announced it's brought in Stacey Shively as senior vice president and general merchandise manager for home, effective Monday.
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In her role, reporting to Chief Merchandising Officer Joe Hartsig, she'll help accelerate Bed Bath & Beyond's merchandising strategy around categories like bed, bath, dining, organization and seasonal, according to a company press release.
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Shively has more than 25 years of retail experience, most recently serving as senior vice president and general merchandise manager of J.C. Penney's home division. Prior to that, she worked at Target, Bluestem Brands and Dollar Tree.
Dive Insight:
In the midst of a three-year transformation plan, Bed Bath & Beyond is working to revamp its merchandising strategy.
Ahead of its investor day in October, the retailer laid out a plan to launch more than 10 private labels over the next 18 months, with eight of those expected to be introduced by the end of next February.
In the spring, Bed Bath & Beyond rolled out home brand Nestwell and relaunched bath brand Haven. And just this week, the company launched its third private label, Simply Essential, which offers products at a lower price point — starting at $1 and not exceeding $200. The retailer aims to grow its private label penetration from 10% to at least 30% within the first three years.
Aside from revamping its private label offerings, Bed Bath & Beyond is cutting thousands of underperforming brands, labels and products, while simultaneously bringing in thousands of new products exclusive to the retailer.
"As we continue to solidify Bed Bath & Beyond as the destination for home, we are focused on managing our merchandise assortment through a customer-inspired and omni-always lens," Hartsig said in a statement, adding that Shively, in her new merchandising role "brings a wealth of knowledge and experience in retail with exceptional leadership skills delivering positive sales results in fast-paced, transformational environments. She is a powerhouse leader who I know will successfully manage the home business holistically."
