Bed Bath & Beyond's newest owned brand offers items priced as low as $1

Bed Bath & Beyond Inc. BBBY, +1.69% announced the launch of its latest owned brand, Simply Essential, on Monday. The collection includes more than 1,200 items, some, such as serving spoons and other kitchen essentials, priced as low as $1. "Of all the owned brands that Bed Bath & Beyond will launch this year, Simply Essential represents the largest new product assortment and is intended to attract new customer segments for us," said Joe Hartsig, Bed Bath & Beyond's chief merchandising officer, in a statement. The entire line is priced below $200. Merchandise spans bedroom, bathroom and kitchen items. Simply Essential is the third owned brand that Bed Bath & Beyond has launched this year. The company aims to launch eight by the end of February 2022. Owned brands are a key part of the company's growth plan. Bed Bath & Beyond stock has rallied 46.1% for the year to date while the S&P 500 index SPX, -0.02% is up 12.5% for the period.