Bed Bath & Beyond Inc. BBBY,
said in a filing that it has entered into a share repurchase agreement with JPMorgan in which the household goods retailer will acquire $ 150 million in shares. The purchase will be part of the previously authorized $ 825 million share buyback program, leaving $ 450 million available. The deal is part of an accelerated stock buyback agreement (ASR) to be completed during Bed Bath & Beyond’s fourth fiscal quarter, which ends on February 27, 2021. Bed Bath & Beyond’s shares rose 2.8 % on Friday’s pre-market trading session after sinking around 11% on Thursday. The stock gained 11.2% in the last year, while the S&P 500 index [s:s px] rose 17.5% in the period.
