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

Mattress Bathtub & Outside of on Thursday named a new chief accounting officer, marking an additional leadership alter as the retailer struggles with plunging sales.

The company said Laura Crossen will get over as the senior vice president of finance and main accounting officer, changing John Barresi, who resigned previously this thirty day period immediately after stepping into the position in May perhaps of last 12 months. Crossen has been with the corporation because 2001, most lately as senior vice president of treasury, tax and finance transformation.

The improve will come a day just after Bed Tub explained it was changing CEO Mark Tritton, a Target veteran who experienced been doing work to gain back customers and mature the company’s online revenue considering the fact that joining in 2019. Bed Tub & Beyond named Sue Gove, an unbiased director on the board, as interim CEO and stated it really is operating to discover a long-lasting replacement.

Mattress Bathtub & Further than also mentioned Thursday that it named Susie A. Kim as senior vice president of treasury and investor relations, using about Crossen’s past treasury position.

The leadership adjustments come immediately after Bed Bath & Outside of saw its profits tumble to $1.46 billion in its most recent quarter ended May possibly 28, down from $1.95 billion a yr back. The corporation reported it expects similar-retail store gross sales to recuperate in the next 50 percent of the fiscal calendar year, but did not offer a specific forecast.

Bed Bathtub has hired Berkeley Exploration Group, a retail advising agency, to examine its equilibrium sheets and inventory. It is also doing work with Russel Reynolds to uncover a lasting CEO.

Shares of the business are down additional than 65% so significantly this yr.

— CNBC’s Melissa Repko contributed to this report.