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Why Bed Bath & Beyond Stock Soared Today

TheMotleyFool

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Why Bed Bath & Beyond Stock Soared TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png

Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up 20.2% as of 2 p.m. EDT Thursday after the retail chain named former Target (NYSE: TGT) executive Mark Tritton as its new CEO.

Tritton most recently worked as Target's executive vice president and chief merchandising officer, where he focused on shaping the company's omnichannel shopping experience; he also had stints at Nordstrom, Nike, and Timberland. Effective Nov. 4, he'll succeed interim CEO Mary Winston, who took over when previous CEO Steven Temares stepped down amid pressure from activist investors in May.

Image source: Getty Images.

Source Fool.com

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