Bed Bath & Beyond to sell PersonalizationMall.com for $252M

Elroy Mariano

Retail industry watcher Michael Zakkour discusses Bed Bath & Beyond’s huge dip in the markets and how retail can keep up with competitors in coming years. Bed Bath & Beyond agreed to sell online retailer PersonalizationMall.com to 1-800-FLOWERS.COM for $252 million, the companies announced Tuesday. The sale comes as Bed Bath […]

Bed Bath & Beyond agreed to sell online retailer PersonalizationMall.com to 1-800-FLOWERS.COM for $252 million, the companies announced Tuesday.

The sale comes as Bed Bath & Beyond has struggled to keep up with a changing retail landscape that has seen more consumers shopping online. The retailer’s market capitalization has fallen from a peak of $17.35 billion in June 2012 to below $1.5 billion on Tuesday.

“PersonalizationMall’s extensive product offering and industry-leading personalization capabilities will be an excellent addition to our growing family of popular gifting brands,” said Chris McCann, CEO of 1-800-FLOWERS.COM.

Ticker Security Last Change Change %
BBBY BED BATH & BEYOND INC. 12.32 +0.06 +0.45%
FLWS 1 800 FLOWERS COM 30.02 -0.98 -3.16%

The deal includes PersonalizationMall.com’s website and 360,000-square-foot distribution facility in Bolingbrook, Illinois. Its revenues were more than $150 million in its most recent year, McCann said.

BED BATH & BEYOND FIGHTS FOR ITS SURVIVAL

“We expect PersonalizationMall.com to be accretive to our top and bottom-line results in fiscal 2021,” McCann said.

(Photo by Kevork Djansezian/Getty Images)

Last week, Bed Bath & Beyond said it saw a 5.4 percent drop in comparable sales in its fourth quarter, blaming dipping store traffic, inventory management issues and increased promotional activity and markdowns.

It’s another addition for 1-800-FLOWERS.COM, which includes brands like Harry & David, The Popcorn Factory and Cheryl’s Cookies.

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FOX Business’ Jonathan Garber contributed to this report.

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