Bed Bath & Beyond is launching three new owned brands — Our Table, Wild Sage and Squared Away— that include serveware, cookware, tools and gadgets, and other kitchenware items, as well as storage and organization products and home décor.
The new Bed Bath & Beyond brands come in time for the back-to-school/college season and as the retailer continues to revamp its operations, including the addition of new product lines and executives.
The company in April posted a net income of $9 million, or eight cents per diluted share, for the fourth quarter ended February 27 versus a net loss of $65 million, or 53 cents per diluted share, in the period a year prior. Adjusted net income was $47 million, or 40 cents per diluted share, versus $47 million, or 38 cents per diluted share, in the year-previous quarter. Net sales were $2.62 billion versus $3.12 billion in the period a year before.
Later in April, the company announced the introduction of the Haven private label product line, featuring bathroom essentials including textile, decor and housewares products such as towels, mirrors and organizers. On May 10, it debuted the opening price point Simply Essentials owned brand line. Simply Essentials includes more than 1,200 products spanning the company’s top five destination categories: bed, bath, kitchen and dining, and storage and organization.
Days later, Bed Bath & Beyond named former JCPenney and Target executive Stacey Shively svp, general merchandise manager for home; then it appointed former Tiffany & Co. exec John Barresi as svp/finance, chief accounting officer.
The rollouts of Our Table, Wild Sage and Squared Away bring the total of Bed Bath & Beyond-owned brands launched the past five months to six, ahead of its previously announced six-month timetable.
The company debuted the Nestwell private label last quarter, along with Simply Essential and Haven. Bed Bath & Beyond pointed out that it is on track to introduce a total of at least eight owned brands by fiscal year’s end in February 2022.
According to the company:
The Our Table line of modern kitchen and dining wares, “inspired by natural materials and time-honored craftsmanship,” offers clean lines and simple forms. The brand lineup will include more than 1,100 products across product segments including cookware, bakeware, food prep, kitchen gadgets and utensils, kitchen linens, dining and barware.
The Squared Away collection offers storage and organization items for the laundry room, kitchen, closet, bathroom and elsewhere in the home. The collection incorporates almost 300 products.
The Wild Sage group is an eclectic assortment of home decor influenced by current global design trends from around the world. The collection’s 600 bedroom, bathroom, dining room and living space products can help customers express their unique personalities and bring their stories to life by tapping an always-evolving mix of creative and affordable finds.
“I am pleased that we are ahead of schedule in delivering our owned brands plan, launching product assortments strategically sequenced to cover our core destination categories,” Bed, Bath & Beyond CEO Mark Tritton stated. “Together with the company’s first opening-price-point owned brand, we are helping customers unlock the magic in every room while strengthening our leadership in the home market.”