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.
|BBBY||BED BATH & BEYOND, INC.||16.75||+1.47||+9.62%|
|KR||THE KROGER CO.||40.70||+0.25||+0.62%|
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.