BBBY...$27.53 in the P/M...Bed Bath & Beyond Surges 80% On Kroger Deal, Digital Shift And $1B Buyback...:partying_face:
November 02, 2021 5:13pm 3 min read Comments
Bed Bath & Beyond Surges 80% On Kroger Deal, Digital Shift And $1B Buyback
Bed Bath & Beyond BBBY +0% (Get Free Alerts for BBBY) surged nearly 80% in Tuesday's after-hours trading session on the heels of three new announcements from the company outlining strategic plans to help with its turnaround.
Here are the details traders and investors should know.
Share Buyback: Bed Bath & Beyond increased the amount of its three-year share buyback to $1 billion, up from a previous $325 million figure. The company said the $1 billion in buybacks will be completed by the end of fiscal 2021.
The completion of the buyback will come two years ahead of schedule. To date, the company has bought back $600 million in shares since the end of fiscal 2020. The company will complete the additional $400 million remaining on the buyback over the third and fourth quarters.
Kroger Partnership: Bed Bath & Beyond and The Kroger Co KR +0.07% announced a collaboration for a national e-commerce experience and in-store pilot. The partnership will center on the home and baby category offerings for both companies.
Kroger.com will sell select Bed Bath & Beyond and Buy Buy Baby-branded items
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