Last Updated: Oct. 15, 2024 at 8:14 p.m. ET
First Published: Oct. 15, 2024 at 6:30 p.m. ET
Shares of the Container Store Group Inc. surged after hours on Tuesday after the struggling storage retail chain said it had secured the backing of home-goods seller Beyond Inc., the company that owns Bed Bath & Beyond and Overstock.
Under the deal, in which Beyond BYON will invest $ 40 million in the Container Store TCS and potentially land a hefty stake in the company, the two plan to revive growth at the Container Store and “improve customer experience” using Beyond’s brand-name recognition, customer data and other relationships.