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Bed Bath and Beyond Builds Omnichannel Capabilities Through IT Investment

Specialty retailer Bed Bath and Beyond spent $68m in its recently completed first quarter, primarily for IT enhancements. "While we continue to review and prioritize our capital needs, we remain committed to making the required investments in our company to help position us for our long-term success," said CEO Steven Temares.

Ongoing initiatives include adding new functionality and assortment to its websites and making enhancements to mobile and apps. "(We are) furthering development work necessary for a new and more robust point of sale system, continuing our deployment of systems and equipment to allow our stores to take advantage of new technologies and processes, and continuing to strengthen our IT, analytics, marketing, and e-commerce groups," Temares said.

The retailer also plans to open an additional distribution facility that will ship both directly to customers and store locations.

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