Bed Bath & Beyond (BBBY) Announces Bold Moves To Redefine Business Model

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Bed Bath & Beyond (BBBY) Stock Explodes 55% on Kroger Partnership, Digital Marketplace Launch and Accelerated Buyback Plan, Loop Capital Downgrades to Sell as Fundamentals Remain Challenging

November 3, 2021 9:05 AM EDT

Shares of Bed Bath & Beyond (NASDAQ: BBBY) are up nearly 50% in pre-open Wednesday after the company delivered three separate announcements yesterday.

The company teamed up with Kroger (NYSE: KR) to offer their customers the most sought-after goods for the home and baby products. Moreover, BBBY also announced the launch of its new digital marketplace that will expand its assortment of key products.

Finally, shares were further boosted on news that Bed Bath & Beyond will accelerate its $1 billion share buyback program, now expected to end by the... More