By Allison Prang 
 

Bed Bath & Beyond Inc. (BBBY) shares rose 25% Thursday, a day after the company said it was bringing in Target Corp.'s (TGT) head of merchandising as its new chief executive officer.

The retailer said Wednesday that on Nov. 4, Mark Tritton will take over as president and CEO. The company's last CEO resigned earlier this year as Bed Bath & Beyond was pressured by activist investors to make changes at the company. Mary Winston has been Bed Bath & Beyond's interim CEO and the retailer said she will stay on its board.

Shares of Bed Bath & Beyond have climbed 10% year to date and have increased 8.1% in the last three months.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

October 10, 2019 09:55 ET (13:55 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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