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