- The turnaround at Bed Bath & Beyond continued on Tuesday after the company announced the sale of Christmas Tree Shops for approximately $250 million.
- The 462% rally in its shares this year extended on Wednesday, with the stock surging as much as 9% on the non-core asset divestiture.
- Bed Bath & Beyond has been in turnaround mode since it brought in a new management team led by former Target executive Mark Tritton in 2019.
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Bed Bath & Beyond extended its eye-popping rally on Wednesday after it announced on Tuesday it would sell non-core assets for approximately $250 million.
Those non-core assets include Christmas Tree Shops, Linen Holdings, and a Florence, New Jersey, distribution center.
The news sent shares up as much as 9% in Wednesday trades, helping extend a 462% rally from their COVID-19 pandemic low reached in