Author Bio
Rhian Hunt grew up in a crowded Connecticut suburb before moving to Wisconsin, where he enjoys being an outdoorsman, relishing the struggle against mountainous snowfalls during the eternal-seeming winters and aerial armadas of mosquitoes over the summer. Rhian studied Business Economics and Microeconomics at the University of Wisconsin. A lifelong interest in writing led to first professional freelancing, then becoming a Motley Fool author.
January has been a good month for home goods company
Bed Bath & Beyond (NASDAQ:BBBY) so far, with single-day upward surges of as much as 10% and an approximate 50% rise since Jan. 1. Despite volatility, the retailer s shares are up between 14% and 16% in early afternoon trading Tuesday.
Justin Sullivan/Getty Images
Bed Bath & Beyond is rising early Tuesday, a day after it announced it would sell Cost Plus World Market, its last non-core brand.
Bed Bath & Beyond (ticker: BBBY) said that private-equity firm Kingswood Capital Management was buying the store chain for an undisclosed amount; the deal is expected to close before Bed Bath’s fiscal year ends in February. In addition, Bed Bath announced a new $150 million accelerated share repurchase program. It will be added to the $225 million buyback plan launched in October, which it has largely funded from noncore asset sales.
The shares closed down in regular trading Monday, but are up 1.9% to $19.23 at recent check. Bed Bath has gained more than 9% year to date, rising nearly six-fold from its lows in March.