Former Bed Bath & Beyond CEO Mark Tritton sued the company on Friday, accusing the struggling retailer of cutting off bi-monthly payment of his $6.76 million severance agreement in January.
Bed Bath & Beyond’s troubles have accelerated in the last year, Cristina Fernández, managing director and senior research analyst with Telsey Advisory Group, told Retail Dive in an email. “The company’s performance peaked in 2011 and weakened in the following years mostly due to increased competition and price transparency as players like Amazon became big, a failure to invest in digital/technology/supply chain as consumers moved to shopping online, and a reliance on promotions/coupons,” Fernández said.
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