Bed Bath & Beyond Inc. BBBY,
stated in a case that it has entered into a share repurchase agreement with JPMorgan under which the home goods retailer will purchase shares of $ 150 million. The acquisition will be part of the previously authorized $ 825 million share repurchase program, leaving $ 450 million available. The transaction is part of a Rapid Share Repurchase Agreement (ASR) that is expected to be completed during the fourth fiscal quarter of Bed Bath & Beyond, which ends on February 27, 2021. The shares of Bed Bath & Beyond have up 2.8% on Friday’s premarket trading after sinking about 11% on Thursday. The stock has gained 11.2% in the last year, while the S&P 500 index [s:s px] increased by 17.5% for that period.