New CEO for Bed Bath & Beyond

and we told you last night the

struggling retailer had finally hired a

new CEO and today investors cheered that

news sending the stock up 21 percent

Courtney Reagan tells us why the market

thinks mark Tritton is the man to turn

the couple to year-round targets losses

Bed Bath & Beyond gained targets chief

merchant is taking the top job at Bed

Bath and Beyond in November in an

attempt to turn around the struggling

home goods retailer Bed Bath & Beyond

market share has eroded with merchandise

that failed to excite shoppers and a

digital strategy that's fallen behind

competitors a trio of activists bought

shares of the home goods retailer and

petitioned the company for change which

is now underway Kris Kuyper one of the

key activists that Legion partners asset

management told me quote mark Tritton is

a superstar talent we are so excited

that he is joining Bed Bath and Beyond

we believe mark Tritton has the skills

to return Bed Bath & Beyond to greatness

during his three years at Target Trenton

was a key part of the leadership team

that reinvigorated tired stores and

upgraded merchandise from the products

how they're priced and how merchandise

is presented to shoppers he was part of

the strategy to use stores as

fulfillment centers for online orders

which lowered costs and proved to

increase convenience for many shoppers

Jordan helped develop new private label

brands at Target and reinvigorated tired

ones including a number of home goods

lines because private label brands by

design are exclusive to the retailer

that develops them there's more pricing

control and thus higher profitability

than national brands a third of target

sales are private label goods and only

about 10% of Bed Bath & Beyond improving

private label is a key part of the

turnaround strategy at the home goods

retailer target was sputtering when

Tritton joined from Nordstrom but it

wasn't in as dire a scenario as Bed Bath

& Beyond Tritton hasn't been a CEO

before and it's not clear how long it

will take for big changes to take effect

but today Bed Bath & Beyond investors

have hope for the future for nightly

Business Report

I'm Courtney Regan at the New York Stock