BUZZ-Container Store jumps on investment from Bed Bath & Beyond owner

Reuters10-16

** Shares of specialty retailer Container Store Group

surge 31% to $14.05 premarket

** Company after market close on Tuesday said Bed Bath & Beyond owner Beyond agreed to invest $40 mln through preferred equity transaction

** Deal would result in ownership of ~40% of TCS stock by Beyond

** Companies expect to drive higher traffic for TCS's core assortment by co-branding Bed Bath & Beyond products for kitchen, bath and bedroom

** The preferred equity investment helps to financially stabilize TCS amid a challenging backdrop - Jefferies

** As of last close, TCS stock down ~69% YTD

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))

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