UNION, N.J., Sept. 14, 2020 /PRNewswire/ -- Bed Bath
& Beyond Inc. (Nasdaq: BBBY) has appointed
Juan Guerrero as Senior Vice
President (SVP), Chief Supply Chain Officer,
effective immediately. Mr. Guerrero will report directly
to Chief Operating Officer (COO) and President of buybuy BABY,
John Hartmann, and be responsible
for leading the transformation and optimization of the Company's
global supply chain network.
Mr. Guerrero will lead Bed Bath & Beyond's work to
reconstruct and modernize supply chain operations as it further
improves the omni-always shopping experience for customers. This
will include supporting strategic sourcing and the introduction of
an array of owned brands, securing faster, more efficient delivery
through an optimized store fulfillment network, and driving
profitability improvements through the supply chain. Mr.
Guerrero will lead a cross-functional team to improve the Company's
logistics proficiencies and rebuild supply chain infrastructure
systems, while leveraging data and analytics to transform and
optimize technology, procurement, expenses and network
operations.
COO John Hartmann said, "Our
digital-first customers rely on us to deliver a faster, more
convenient and omni-always shopping experience, with a strong
assortment of customer-inspired products delivered with clear,
compelling value. Juan's experience implementing supply chain
optimization and omni-channel distribution strategies at some of
the world's leading retailers will enable us to accelerate our work
to rebuild our authority as we make it even easier to feel at home
with Bed Bath & Beyond."
Prior to joining Bed Bath & Beyond, Mr. Guerrero led the
supply chain and merchandising teams at FleetPride, before which he
was Chief Global Supply Chain Officer at Bloomin' Brands, where he
managed a complete supply chain transformation to enhance
productivity and cash flow for the global restaurant company.
Mr. Guerrero also previously led the supply chain function at
Office Depot and held senior global logistics and supply chain
roles at Starbucks Coffee Company, where he oversaw a logistics
network that supported over 16,600 retail and licensed
locations.
Mr. Guerrero said, "I am thrilled to join Bed Bath & Beyond
and play my part in accelerating this iconic company's omni-always
transformation. Together with the leadership team, we expect to
improve operational performance with strategic relationship
management, responsible procurement, and targeted investment to
deliver for our customers the truly differentiated array of
products they want, when they want, where they want."
About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries (the "Company")
is an omnichannel retailer that makes it easy for our customers to
feel at home. The Company sells a wide assortment of domestic
merchandise and home furnishings. The Company also provides a
variety of textile products, amenities and other goods to
institutional customers in the hospitality, cruise line, healthcare
and other industries. Additionally, the Company is a partner in a
joint venture which operates retail stores
in Mexico under the name Bed Bath & Beyond.
Forward-Looking Statements
This press release contains forward-looking statements,
including, but not limited to, the Company's progress and
anticipated progress towards its long-term objectives. Many of
these forward-looking statements can be identified by use of words
such as may, will, expect, anticipate, approximate, estimate,
assume, continue, model, project, plan, goal, and similar words and
phrases, although the absence of those words does not necessarily
mean that statements are not forward-looking. The Company's actual
results and future financial condition may differ materially from
those expressed in any such forward-looking statements as a result
of many factors. Such factors include, without limitation:
general economic conditions including the housing market, a
challenging overall macroeconomic environment and related changes
in the retailing environment; risks associated with the novel
coronavirus (COVID-19) and the governmental responses to it,
including its impacts across the Company's businesses on demand and
operations, as well as on the operations of the Company's suppliers
and other business partners, and the effectiveness of the Company's
actions taken in response to these risks; consumer preferences,
spending habits and adoption of new technologies; demographics and
other macroeconomic factors that may impact the level of spending
for the types of merchandise sold by the Company; civil
disturbances and terrorist acts; unusual weather patterns and
natural disasters; competition from existing and potential
competitors across all channels; pricing pressures; liquidity; the
ability to achieve anticipated cost savings, and to not exceed
anticipated costs, associated with organizational changes and
investments, including the Company's strategic restructuring
program; the ability to attract and retain qualified employees in
all areas of the organization; the cost of labor, merchandise and
other costs and expenses; potential supply chain disruption due to
trade restrictions, and other factors such as natural disasters,
such as pandemics, including the COVID-19 pandemic, political
instability, labor disturbances, product recalls, financial or
operational instability of suppliers or carriers, and other items;
the ability to find suitable locations at acceptable occupancy
costs and other terms to support the Company's plans for new
stores; the ability to establish and profitably maintain the
appropriate mix of digital and physical presence in the markets it
serves; the ability to assess and implement technologies in support
of the Company's development of its omnichannel capabilities; the
ability to effectively and timely adjust the Company's plans in the
face of the rapidly changing retail and economic environment,
including in response to the COVID-19 pandemic; uncertainty in
financial markets; volatility in the price of the Company's common
stock and its effect, and the effect of other factors, including
the COVID-19 pandemic, on the Company's capital allocation
strategy; risks associated with the ability to achieve a successful
outcome for its business concepts and to otherwise achieve its
business strategies; the impact of intangible asset and other
impairments; disruptions to the Company's information technology
systems including but not limited to security breaches of systems
protecting consumer and employee information or other types of
cybercrimes or cybersecurity attacks; reputational risk arising
from challenges to the Company's or a third party product or
service supplier's compliance with various laws, regulations or
standards, including those related to labor, health, safety,
privacy or the environment; reputational risk arising from
third-party merchandise or service vendor performance in direct
home delivery or assembly of product for customers; changes to
statutory, regulatory and legal requirements, including without
limitation proposed changes affecting international trade; changes
to, or new, tax laws or interpretation of existing tax laws; new,
or developments in existing, litigation, claims or assessments;
changes to, or new, accounting standards; and foreign currency
exchange rate fluctuations. Except as required by law, the
Company does not undertake any obligation to update its
forward-looking statements.
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SOURCE Bed Bath & Beyond Inc.