The National Retail Federation’s annual report on the Top 100 Retailers is based on sales for the most recently completed fiscal year. The Power Player charts look at retailers with 2019 U.S. sales equal to or greater than 10 percent of sales of the category leader.
As the global pandemic continues, retailers are re-evaluating how they do business. Stores specializing in home decor and furnishings like Bed Bath and Beyond are among those taking a second look at its C-suite and what needs to change to foster sales.
At Home, which bills itself as the décor superstore, continues its rapid-pace store openings. Before coronavirus-related store closures were ordered around the country, At Home opened six new locations in Washington state, Arizona, California, Ohio and South Dakota. At Home has also signed a lease for its first New York City store, in the Rego Park section of the borough of Queens, though there’s no target opening date as of yet.
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At Home’s store inventory typically exceeds 50,000 products and includes furniture, rugs, wall art, patio, holiday décor, and housewares ranging from kitchen gadgets and utensils to tabletop. With other items from closet organization to entertaining and party supplies.
Bed Bath and Beyond continues to strengthen its C-suite, adding three new executives in May: CFO Gustavo Arnal, formerly of Avon and Procter & Gamble, former BJ’s Wholesale digital officer Rafeh Masood as chief digital officer, and Arlene Hong, formerly with Fullbeauty Brands, as chief legal officer. In addition, Gregg Meinick was promoted to chief stores officer from chief digital officer.
The moves signal that the company’s new chief executive Mark Tritton, who joined late last year from Target Corp., is taking broad strokes to change the way Bed Bath and Beyond operates. Tritton has also lured John Hartman away from hardware cooperative True Value Company to be chief operating officer and tapped Walgreens’ chief merchandising officer Joe Hartsig to serve in the same position.
“To rebuild our business, we need leaders of change,” Tritton says of all the new players at headquarters. Bed Bath and Beyond has also been shedding such assets as One King’s Lane and PersonalizationMall.com.
Whether an ecommerce or in-person business model, these are the power players who are coming out on top with their persistence to succeed. Keeping customer needs, consumer trends and the economic climate in mind, each of the power players have proven its ability to evolve.