Bed Bath & Beyond Unveils More Private Brands in Profit Push

Bed Bath & Beyond Inc. is introducing a trio of brands it produces to boost margins and refresh its merchandise -- a core part of Chief Executive Officer Mark Tritton’s turnaround plan for a retailer that has posted three straight declines in annual sales.

The new lines will roll out by mid-July, timed for what’s expected to be robust spending by college kids heading back to school after remote learning. Over the next three years, Tritton wants to triple the portion of sales coming from private-label items, which are more profitable than goods from third-party manufacturers, to 30%. That jump would put it more in line with peers.