Bed Bath & Beyond appointed Cindy Davis as executive vice president and chief brand officer, the company announced on Wednesday. Davis will step into the role effective May 26. She will also assume the title of president for Decorist.
In the role, Davis will head marketing and communication across the company’s various retail banners and will lead the team responsible for growing Decorist, Bed Bath & Beyond’s digital interior design platform. The retailer in December announced it had combined the chief brand and chief marketing positions into one role.
Davis, who will report directly to CEO Mark Tritton, comes from L Brands where she was the chief digital marketing officer, according to a company press release. She also served in leadership positions at Walmart, Inc., Sam's Club, Yum! Brands, Starwood Hotels and Hilton Hotels.
After cleaning out his suite of executives — including the chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer and general counsel, chief administrative officer and chief brand officer — in December, Mark Tritton has been on a hiring spree for replacements.
Earlier this month, the company appointed Gustavo Arnal to the chief finance role after Robyn D'Elia announced her departure. Additionally, the company named Rafeh Masood as chief digital officer and Gregg Melnick as chief stores officer, effective May 11. Arlene Hong was named chief legal officer, effective May 18. Joe Hartsig in March stepped into the chief merchant role. John Hartmann was appointed chief operating officer, effective May 18.
The new hires, as Tritton noted in a statement, come as the company works “to rebuild our business and strengthen our authority in the Home space.”
But they also come in the middle of a pandemic. Like many nonessential retailers, Bed Bath & Beyond was temporarily forced to shutter almost all of its stores, aside from BuyBuy Baby and Harmon Face Values. The retailer announced earlier this month a phased approach to reopening. To cut costs during this period, the company cut executive salaries by 30%, reduced the board of directors' cash compensation by 30% and furloughed the "majority" of its store associates and a portion of corporate associates until at least May 30.
Tritton, though, is moving ahead with a turnaround that is likely to determine the already struggling retailer’s fate.
Last month, the Bed Bath & Beyond reported fourth-quarter net sales fell 6.1%, while comp sales fell 5.6%. Comp sales from physical stores fell 10%, but from its digital channels, they rose 16%. The retailer also posted a $65 million net loss in the quarter.
To raise cash and boost its stock value, the company sold off some non-core banners, including One Kings Lane and PersonalizationMall.com. Bed Bath & Beyond, however, last month filed a lawsuit in regards to the deal with PersonalizationMall.com not yet closing as expected.