Bed Bath & Beyond shares drop 7% after it lifts suspension of planned debt reduction

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Bed Bath & Beyond Inc. shares were down 7% in after-hours trading Monday after the retail outlet said it has lifted suspension of planned debt reductions, which had been implemented because of economic and market conditions caused by the pandemic. Bed Bath & Beyond also announced it has started cash tender offers to purchase up to $300 million of certain outstanding senior notes. Bed Bath & Beyond shares are down 27% in 2020. The broader S&P 500 index is up 4% this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.