Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Bed Bath & Beyond announced the departure of its chief executive officer, Mark Tritton. The company hired a replacement as its sales continue to drop, and it is happening at a fast rate.
Bed Bath & Beyond's chief is being replaced just three years after he was appointed in the role. As the company is not seeing much improvement in sales, it made the decision to carry out a major leadership shake-up and the changes also affected Tritton.
According to CNN Business, in the meantime, the Union, New Jersey headquartered chain of domestic merchandise retail stores, has tapped Sue Grove to be its CEO. She will be leading the company until a permanent chief is found. Grove is said to be an independent director on Bed Bath & Beyond's board.
It was reported that the outgoing CEO was poached by the company from Target in 2019. While working for the big-box retail store company, he was in charge of expanding the store's private-label brands. He attempted to do the same strategy when he moved to Bed Bath & Beyond, but it seems to have not been working as expected, and the progress has been slow compared to competitors.
Moreover, his efforts reportedly did very little to cover Bed Bath & Beyond's deep-seated problems. And on Wednesday this week, the company reported a considerably lower-than-expected profit for the last quarter. Overall, the sales have plummeted 27% from the same period a year ago, and this resulted in the company's stock dropping by as much as 20% in early trading.
"After thorough consideration, the Board determined that it was time for a change in leadership. Our banner's heritage is built on the premise that when customers are shopping for the home, Bed Bath & Beyond is the perfect destination for unique solutions and inspiration," independent chairman of the Bed Bath & Beyond board of directors, Harriet Edelman, said in a press release.
He further explained, "We must deliver that proposition for customers, drive growth, and unlock the value of the banners. Today's actions address company performance, the macroeconomic conditions under which we are operating, and the expectations of the Board on behalf of shareholders.
Finally, Edelman said they are confident that the new interim chief, Sue Grove, "will bring the right combination of industry experience and knowledge of Bed Bath & Beyond's operations to lead the Company, focus our resources, and revise strategy, as appropriate."
