Bed Bath & BeyondPhoto by Richard Levine/Corbis via Getty Images

  • Shares of Bed Bath & Beyond jumped as much as 32% in Monday afternoon trading.
  • The company announced on Friday that it would be bringing back some employees after experiencing an 85% surge in online sales for the month of April to date.
  • The company is in the middle of a turnaround effort led by its new CEO, Mark Tritton.
  • Visit Business Insider’s homepage for more stories.

Shares of Bed Bath & Beyond jumped as much as 32% in Monday afternoon trading to $6.89 a share. 

The company announced on Friday after the market close that it experienced an 85% surge in online sales for the month of April to date.

As Bed Bath & Beyond stores closed due to the coronavirus pandemic, the company turned 25% of its stores across the US and Canada into regional fulfillment centers, almost doubling its digital fulfillment capacity.

The company has also introduced curbside pick-up, contactless delivery, and curbside delivery services at a number of locations across the US and Canada. 

The retailer is in the middle of a turnaround effort led by its new CEO, Mark Tritton. 

Read more: ‘I’ve gone to cash’: Mark Cuban outlines his coronavirus investing strategy ahead of another ‘leg down’ in markets — and says now is the time to buy real estate

In a statement, the company said it was able to bring back several hundred associates from furlough “to support the enhanced regional fulfillment network and accelerate the introduction of new services for customers.” In addition, hundreds more new positions have been created in the Company’s ecommerce distribution centers to meet the increased demand across digital channels,” it added.

Bed Bath & Beyond also extended the temporary closure of all its retail stores until May 16.

Read More

(Visited 1 times, 1 visits today)
Join Our Newsletter.
We'll send you the best news and informed analysis on what matters the most to you.

Leave a Reply

Your email address will not be published. Required fields are marked *