BBBY jumps as it acquires Brand House, plans 40+ store closures
Bed Bath & Beyond(BBBY) shares rose nearly 4% after-hours after announcing a $26.8 million share deal to acquire The Brand House Collective (formerly known as Kirkland’s) operator of its physical stores. The combined company will close over 40 underperforming locations and expects at least $20 million in cost savings to help lift profitability. Brand House shares fell 9% on the news.