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Anna G's Avatar
published in Blogs
Nov 03, 2021
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Bed, Bath & Beyond (BBBY, $16.75) announces partenrship with Kroger

Bed, Bath & Beyond  shares nearly doubled in after-hours trading Tuesday, following news of  the home retail company’s  distribution partnership with Kroger Co.   Bed, Bath also said that  it would complete its $1 billion share buyback program by the end of its fiscal year.

Bed, Bath & Beyond said the deal will lead to its signature and 'BuyBuy Baby' products sold on Kroger.com, as well as in the grocery chain's physical stores, beginning in 2022.

The company will boost its 2021 share repurchases from $325 million to $625 million. It aims to  complete its $1 billion program by the end of February – that is, three years ahead of its original schedule.

"Our collaboration with an exceptional retailer like Kroger underscores Bed Bath & Beyond's authority in the home and baby categories," said CEO Mark Tritton. "Today's announcement is a key milestone, bringing Bed Bath & Beyond and buybuy Baby products to reach more customers than ever before."

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an operator of chain of home furnishings stores

Industry SpecialtyStores

Profile
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Industry
Specialty Stores
Address
650 Liberty Avenue
Phone
+1 908 688-0888
Employees
37600
Web
https://www.bedbathandbeyond.com
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