By Yasin Ebrahim
Investing.com - Bed Bath & Beyond Inc (NASDAQ:BBBY) jumped in afterhours market hours Tuesday, following a slew of positive updates from the homewares retailer including a partnership with grocery chain Kroger (NYSE:KR).
Bed Bath & Beyond Inc (NASDAQ:BBBY) was up more than 80% in after hours trading.
"We are preparing for the peak Holiday season and are particularly excited about the new future sales channels that we've announced today, which are our strategic collaboration with Kroger and our own digital Marketplace," the company said.
In another positive update, the company said it had completed $600 million in share repurchases since the end of fiscal 2020, and now expected to repurchase the remaining $400M shares of its $1B by the end of fiscal 2021, two years ahead of schedule. .
"Sales to date have remained consistent with the September trends we shared on our earnings call several weeks ago. Our focus remains on delivering comp sales growth in the all-important November month, which represents a disproportionately larger impact to our quarterly sales," it added.