Bed Bath & Beyond Enters Into $150 Million Accelerated Stock Buyback Plan

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Bed Bath & Beyond (NASDAQ: BBBY) will buying back $150 million worth of stock, or about 5 million shares, from JPMorgan Chase under an accelerated repurchase program. 

The home goods retailer had previously authorized $825 million worth of stock buybacks over the next three years, but said in its fiscal 2021 first-quarter earnings report yesterday it would complete a total of $375 million of the repurchases on a sped-up basis when or before the current quarter ends on Feb. 27. 

As it had already completed $225 million worth of accelerated stock repurchases back in October, it was nearing the deadline with $150 million remaining. After the buyback is finished, Bed Bath & Beyond will have $450 million remaining on its repurchase authorization. 

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