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Bed Bath & Beyond saw its stock price surge more than 80% in extended trading on Tuesday following the news that the housewares box store would be teaming up with supermarket giant Kroger in a collaboration.
Bed Bath & Beyond opened at $15.57 per share and remained relatively flat throughout the day, closing at $16.75. But after the closing bell – and the announcement – BBBY hit $30.62 within the next hour.
NEW YORK, NEW YORK – OCTOBER 01: People walk past a Bed Bath & Beyond store on October 01, 2021 in the Tribeca neighborhood in New York City. (Photo by Michael M. Santiago/Getty Images) (Michael M. Santiago/Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BBBY | BED BATH & BEYOND, INC. | 16.75 | +1.47 | +9.62% |
| KR | THE KROGER CO. | 40.70 | +0.25 | +0.62% |
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Kroger saw a rise of its own. After a day of mixed trading, the stock initially took a dive after hours before climbing from a close of $40.74 to more than $41.00.
The nationwide grocer said in a press release that it would be teaming up with Bed Bath & Beyond to expand its home, wellness, and baby products both in Kroger stores and online at Kroger.com.
An employee pushes shopping carts towards a Kroger Co. store in Peoria, Illinois, U.S., on Tuesday, June 16, 2015. Kroger…
