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Kroger, Bed Bath & Beyond shares soar on e-commerce tieup

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Yahoo Finance's Jared Blikre reports on Bed Bath & Beyond stock up significantly after hours on news of e-commerce collaboration with Kroger.

Video Transcript

ADAM SHAPIRO: I want to get back to the floor of the New York Stock Exchange. Jared Blikre is watching what's going on with this news about Kroger and Bed, Bath & Beyond teaming up for e-commerce sales. And you can see that Bed, Bath & Beyond surging after hours on that. Jared.

JARED BLIKRE: Adam, I have to disappoint you here. I have changed venues once again. But nevertheless, Bed, Bath & Beyond, if it were to close above 62% tomorrow-- and it's been there in after hours trading-- that would be its best day ever going back to its IPO, which I believe was in the 90s. Here are the details. First of all, they're going to be completing their share buyback program. It's a billion dollars. They've got $400 million left.

But the big news, company is announcing a pact with Kroger, where Bed, Bath & Beyond and Buy Buy Baby, those selection will be sold on Kroger.com and in select stores starting in 2022. They also have a new position, it's called chief growth officer. And they are putting Anu Gupta in that position. Previously, Gupta served as the Bed, Bath & Beyond's chief strategy and transformation officer.

And share's up over 50% right now. You don't typically see moves in a stock that doesn't-- well, it's a retail stock. It has been a meme stock from time to time. So I guess it has moved like this before. But I think we're going to see some pretty heavy trading tomorrow and definitely going to keep an eye on this one, Adam.