Home decor retailer Kirkland's rises on partnership with Bed Bath & Beyond owner
21/10/2024 16:10
(Updates)
** Shares of home decor retailer Kirkland's KIRK.O jump as
much as 25% to $2.50 in morning trade - highest since June 2024
** Co partners with Bed Bath & Beyond owner Beyond BYON.N
to become exclusive brick-and-mortar operator and licensee for
smaller-format locations nationwide
** KIRK says Beyond to invest $25 mln through combined debt
and equity deal to strengthen KIRK's capital position and fuel
growth initiatives
** Expect investment from Beyond will not only enhance our
financial performance but also provide opportunities to
introduce Kirkland's to new customers in a cost-efficient manner
- KIRK CEO Amy Sullivan
** Shares of Beyond up as much as 7% at $11.25
** Up to last close, KIRK down nearly 34% YTD, BYON down
~62% YTD
(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))