In time for the all-important back-to-college home goods shopping season, Bed Bath & Beyond announced a new collaboration with husband-and-wife design team Courtney and Robert Novogratz of The Novogratz.
The designer duo created a line of furniture, bedding, bath, and decor designed for small living spaces like dorm rooms and apartments. Items include an armless futon, end tables, twin XL bedding, lamps, and welcome mats, among other products, ranging in price from $12.99 to $459.99.
“The Novogratz new collection offers unique items that we know our customers will love, while helping them transform their small living spaces into bespoke expressions of their personal lifestyle,” said Mara Sirhal, EVP and chief merchandising officer for Bed Bath & Beyond.
Sirhal took on the chief merchandising officer role in late June after the departure of Joe Hartsig, who previously held the position. Hartsig left amid the ouster of Bed Bath & Beyond CEO Mark Tritton after the company posted another round of double-digit losses for the first fiscal quarter of 2022. The embattled retailer reported 25 percent quarterly net sales decline to approximately $1.5 billion and a 23 percent comp sales drop versus last year.
Bed Bath & Beyond is currently searching for a new CEO, with board member Sue Gove taking the helm in the interim.
While part of the measures to address the company’s financial issues include reducing inventory, Bed Bath & Beyond chief financial officer Gustavo Arnal said during the company’s most recent earnings call that the back-to-college season would be an exception to that belt tightening.
“While we’re addressing inventory down aggressively in the areas where we feel we’re a little bit bloated, we still need to protect our inventory levels through the back-to-college season and through the important holiday season in November and December,” he said.
Bed Bath & Beyond is hoping The Novogratz can generate some additional buzz among back-to-school shoppers. The design influencers have created a number of licensed lines for retailers such as JCPenney, home furnishings makers Momeni rugs and Dorel, and an outdoor furniture collection with actress Sarah Jessica Parker that launched last year.
The Novogratz collection is available now in Bed Bath & Beyond stores and online.