Bed Bath & Beyond Inc. Appoints Retail And Brand Veteran Patty Wu As General Manager Of buybuy BABY

Rhea-AI Summary

Bed Bath & Beyond appoints Patty Wu as Senior Vice President and General Manager for buybuy BABY, effective January 18, 2021. Ms. Wu, with over 25 years of retail experience including leadership roles at Beautycounter and The Honest Company, will implement a six-point strategy to grow the brand and expand its product offerings. buybuy BABY plans to open 50 new stores in the next three years while investing in digital channels and a loyalty program. This leadership change aims to enhance relationships with expecting parents and capitalize on growth opportunities in the baby market.

Positive

• Patty Wu's extensive retail experience is expected to enhance growth at buybuy BABY.
• The company plans to open 50 new buybuy BABY stores over the next three years, indicating ambitious expansion.
• Investment in digital channels and a new loyalty program may improve customer engagement and retention.

Negative

• None.

UNION, N.J., Jan. 5, 2021 /PRNewswire/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY) today named Patty Wu as Senior Vice President and General Manager for buybuy BABY, effective January 18. Ms. Wu will report to John Hartmann, Executive Vice President and Chief Operating Officer at Bed Bath & Beyond Inc. and President of buybuy BABY.

Ms. Wu will be responsible for growing buybuy BABY and its customer base by executing a six-point strategy and capital investment plan that was outlined during the Company's recent Investor Day. The strategy will build on successful work across the Company's core Bed Bath & Beyond banner and include introducing customer-inspired owned brands, as well as extending the product range to include items for young children as well as babies and toddlers.

Ms. Wu brings more than 25 years of experience in retail and business. She joins buybuy BABY from Beautycounter, where she served as its Chief Commercial Officer. She was previously Chief Commercial Officer and General Manager of the Baby Division at The Honest Company, and has also held senior management roles at Mattel, Inc. and Walmart, among other positions. Ms. Wu holds an MBA from Harvard Business School and a BSBA from Washington University in St. Louis.

John Hartmann said, "buybuy BABY has exceptional growth potential, providing us with a unique opportunity to extend our authority in the category by creating stronger and longer-lasting relationships with new and expecting parents. I am very pleased to welcome Patty, whose exceptional expertise will help accelerate our plans, drive meaningful change as we implement our ambitious growth strategy to unlock the potential of this business, and serve customers across the magic moments in their lives."

Ms. Wu said, "I am excited to join buybuy BABY, which has played such a key role for many expectant and new parents, by providing support, guidance, and solutions as families continue to manage in the new normal. As a truly omni-always retailer, buybuy BABY is a partner to parents however they choose to shop and I am honored to join an organization of dedicated associates who have worked tirelessly to serve its customers during these unprecedented times."

buybuy BABY is the leading baby specialist retailer in the markets in which it has retail stores and a strong omni player in the overall baby market. The Company plans to add 50 new buybuy BABY stores in the next three years, while making investments in digital channels and a new enterprise-wide loyalty program to create opportunities to capture growth within the category and across the lifespan of customers.

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 merchandise in the Home, Baby, Beauty and Wellness markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

About buybuy BABY

buybuy BABY is a leading specialty baby retailer in North America that empowers parents with the information and products they need to confidently prepare for, navigate, and celebrate a joy-filled life with baby. The company sells a wide assortment of baby essentials and nursery furnishings. The company is a subsidiary of Bed Bath & Beyond Inc.

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SOURCE Bed Bath & Beyond Inc.

FAQ

Who is Patty Wu and what will her role be at buybuy BABY?

Patty Wu has been appointed Senior Vice President and General Manager of buybuy BABY, effective January 18, 2021. She will be responsible for expanding the brand and executing a growth strategy.

What is the six-point strategy for buybuy BABY?

The six-point strategy aims to grow the customer base, introduce new owned brands, and expand product offerings for babies and toddlers.

How many new stores will buybuy BABY open and over what time frame?

buybuy BABY plans to open 50 new stores in the next three years.

What are the expected impacts of Patty Wu's appointment on buybuy BABY?

Patty Wu's leadership is expected to drive significant growth and strengthen customer relationships, particularly with new and expecting parents.