Bed, Bath & Beyond shares soar as it launches online store and hits Kroger shelves

Bed, Bath & Beyond shares soar as it launches online store and hits Kroger shelves

THE WHAT? Shares in Bed, Bath & Beyond rose sharply last week after the retailer released a trio of positive press releases on Tuesday, according to a report published by The Wall Street Journal.

THE DETAILS The US homeware firm revealed that it expects to complete its US$1 billion share repurchase program this year, some two years ahead of schedule. It is also set to launch a new online store and will sell its range via Kroger (online and in store) from early 2022.

THE WHY? The Wall Street Journal reports that the stock price jump was probably triggered by short sellers, with some 28 percent of free float sold short.

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