Why Bed Bath & Beyond Stock Is Trading Higher Today

Shares of Bed Bath & Beyond, Inc. (NASDAQ: BBBY) are trading higher following an announcement regarding a partnership with The Kroger Co. (NYSE: KR) in which products carried by Bed Bath & Beyond will be directly offered to Kroger customers through Kroger.com as well as a small-scale physical store pilot.

"This strategic online collaboration and in-store pilot will provide Kroger shoppers easy access to essential home and baby products alongside their favorite grocery staples," said Rodney McMullen, Kroger's chairman and CEO.

Bed Bath & Beyond also announced that it expects to complete its $1 billion three-year share repurchase plan by the end of fiscal 2021, two years ahead of schedule.

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Bed Bath & Beyond is a home furnishing retailer, operating around 1,000 stores in all 50 states as well as an expansion effort in Puerto Rico, Canada, and Mexico.

Bed Bath & Beyond has a 52-week high of $53.9 and a 52-week low of $13.38.

The stock was trading 56.4% higher at the time of publication.

Photo by Oxana Melis on Unsplash