Marcus Lemonis, former CEO of Camping World, has been appointed as the new chief executive of Bed Bath & Beyond.
Bed Bath & Beyond BBBY 0.08%increase; green up pointing triangle appointed its executive chairman of the board Marcus Lemonis as its new chief executive.
Lemonis was previously CEO of Camping World, a company he led since 2006 before retiring at the start of this year.
Bed Bath & Beyond shares were up 7.5% to $6.35 in premarket trading.
In a letter to shareholders, Lemonis on Monday said Bed Bath & Beyond would prioritize an omnichannel retail model; expand its digital, financial, insurance and blockchain services; and invest in home transaction platforms, prefab homebuilding and an artificial-intelligence-powered home operating system.
The Murray, Utah, home-goods retailer said it will use AI tools to link commerce, services, insurance, warranties, financing, home attributes, geographic trends and customer behavior to allow it to better cater to homeowners.
“We will pursue acquisitions and investments where we see category gaps, consumer services, business synergies, or natural brand extensions through the next 12 months,” Lemonis said.
Read more on The Wall Street Journal
