Dive Brief:
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Former Burlington Stores Chief Marketing Officer Bart Sichel will take the job of chief marketing and customer officer at Bed Bath & Beyond, the home goods retailer said on Thursday.
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Sichel will oversee marketing and customer strategies for Bed Bath & Beyond, BuyBuy Baby and Harmon, reporting directly to CEO Sue Gove, according to a company press release.
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His 35 years of marketing, retail and consulting experience includes eight years as marketing chief at Burlington until 2019, and a 13-year stint at McKinsey & Company, according to the release and his LinkedIn page.
Dive Insight:
Gove was just installed as Bed Bath & Beyond’s CEO in late October, after taking the post in the interim in June. She took over from Mark Tritton, who arrived from Target in 2019, after his strategy, including overhauling the C-suite, introducing at least 10 private labels and remodeling stores, failed to gain traction.
She is now reassembling a C-suite that has seen turmoil and tragedy of late. The positions of chief merchandising officer, chief operating officer and chief stores officer have turned over in recent months. In September Laura Crossen became chief financial officer in the interim following the suicide death of former CFO Gustavo Arnal.
The retailer is struggling in an environment that has turned sour for retail. In its most recent quarter net sales plummeted 28% year over year as comps dropped 26%. Operating loss in the period ballooned to $346.2 million from $84.1 million last year, as net loss grew to $366.2 million from $73.2 million. The company is shuttering 150 stores and laying off staff as it scrambles to contain costs.
In a statement, Gove pointed to Sichel’s “excellent track record when it comes to building brands, driving brand loyalty, marketing strategy, advertising, and customer insights and analytics,” which she said will be “instrumental” to the retailer’s turnaround. Sichel said the company’s banners remain “beloved shopping destinations.”
"I'm joining Bed Bath & Beyond at an important moment for the company and look forward to partnering with the entire leadership team to build on the power of each concept and strengthen relationships with our partners," he said.
