The good news: New Bed Bath & Beyond CEO Mark Tritton announced a $1 billion investment program yesterday, serious money in the retail game. But the bad news, bordering on, at least in my opinion on Stupid, is that only 40% of that will go to making the stores better and improving the shopping experience. The rest goes to shareholders in the form of stock buybacks and to pay down some debt…which wasn’t too bad at all for a company of this size. Just having a hard time understanding the priorities when fixing the stores has to be the single most important thing he can do to help get this place back on the right track.
Tritton has moved fast and aggressively in his first 100 days on the job and some of the initiatives are bold and make a lot of sense. This one…not so much.