Bed Bath & Beyond Inc. BBBY,
said in a filing that it has entered into a share buyback agreement with JPMorgan in which the household goods retailer will acquire $ 150 million shares. The purchase is part of the $ 825 million share buyback program previously approved, leaving $ 450 million available. The deal is part of an Accelerated Share Repurchase Agreement (ASR) expected to close during the fiscal fourth quarter of Bed Bath & Beyond, which ends February 27, 2021. Shares of Bed Bath & Beyond rose 2.8% in the premarket trading on Friday. after a decline of about 11% on Thursday. The stock is up 11.2% over the past year while the S&P 500 index [s:s px] is up 17.5% for the period.