Business has been downright bad at Bed Bath & Beyond (NASDAQ: BBBY) in recent years, but new CEO Mark Tritton introduced a new plan to investors on Tuesday to turn things around.
The plan calls for $1 billion in estimated spend balanced across share repurchases, paying down debt, and reinvesting in core business operations. Specifically, the company wants to allocate up to $600 million for share buybacks and debt reduction, with most of that leaning toward buybacks. The balance will be used for improving stores, IT, digital projects, and supply chain infrastructure.
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