Bed Bath & Beyond wants to help consumers get a more “restful” sleep and feel cozier in their homes.
As part of its transformation plan, the New Jersey-based home goods retailer launches the Nestwell bedding and bath brand Monday with 1,200 items in stores nationwide and online. It’s the first of eight new store brands that will be released through February 2022.
The announcement, shared exclusively with USA TODAY, comes as retailers increasingly turn to store-owned or private label brands which tend to be more profitable than national brands and create customer loyalty. Consumers have also been spending more money on home purchases as they have spent more time at home during the coronavirus pandemic.
“It’s the biggest change in our product assortment in a generation,” Joe Hartsig, executive vice president and chief merchandising officer at Bed Bath & Beyond, said in an interview with USA TODAY about the new brands.
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Nestwell includes pillows, sheets, comforters, duvet covers and towels and bath accessories like rugs and shower curtains. Prices range from $6 for washcloths to $260 for a king-size down comforter.
For the launch, the retailer released the “Nestwell to Rest Well” guide with an online quiz to “help you identify your nesting archetype and find products that best suit your sleeping style.” The guide also includes design tips and sleep advice.
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The new brands were announced in early March by CEO Mark Tritton, who was hired in late 2019 from Target where he did much the same thing as chief merchandising officer. The more than 30 new brands introduced under Tritton were key in Target’s revitalization.
Since Tritton left Target has continued to add more brands and last week launched the Mondo Llama arts and crafts brand and plans to release the Favorite Day food brand in early April.
At Bed Bath & Beyond, store brands, which will include exclusive products only available at its stores and website, are expected to increase from roughly 10% of the retailer’s overall sales to approximately 30% within the first three years.
In April, the company plans to relaunch its Haven bath brand with a “spa-inspired assortment of organic cotton products and more, to help customers create their own bath sanctuary.” Bed Bath & Beyond’s next brand will be “Simply Essential,” a new collection that will include more than 1,000 household essentials.
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Store closings, remodels and MyPillow
Bed Bath & Beyond under Tritton has attempted a reset, remodeling approximately 450 stores. The chain is also eliminating thousands of poor-performing labels, brands and products.
One of the underperforming brands identified in January was MyPillow whose CEO Mike Lindell has pushed claims of voter fraud in the 2020 presidential election. J.C. Penney, which also has launched two new home brands since May, also confirmed plans to drop MyPillow as has Kohl’s, Wayfair and H-E-B.
Last July, Bed Bath & Beyond Inc. – which also operates buybuy Baby and Harmon Face Values – said 200 of its namesake stores were expected to close over the next two years, accounting for approximately 21% of its Bed Bath & Beyond stores.
The company previously told USA TODAY that after closing 43 stores in February it expected to have completed around 60% of the planned closures, which is about 120 stores.
“We took some tough decisions to close back some stores but we’re nearing finalization of all that, and we’re doing the same thing with our assortment,” Hartsig said.
Bed Bath & Beyond 20% coupons
Hartsig said consumers can use the coveted Bed Bath & Beyond coupons on Nestwell and the retailer’s other new brands.
He also said there were no planned changes to the iconic and popular coupons. Members of the BEYOND+ loyalty program, which costs $29 a year, also save 20% on most purchases and get free shipping.
“We’re not taking the value away from our customers,” Hartsig said. “It’s an important part of our DNA.”
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Contributing: Associated Press
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko