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

Sale comes as Bed Bath & Beyond has struggled to keep up with consumers shopping online

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

Continue Reading Below

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.

TickerSecurityLastChangeChange %
BBBYBED BATH & BEYOND INC.21.72-0.25-1.14%
FLWS1 800 FLOWERS COM23.65+0.30+1.28%

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.

CLICK HERE TO READ MORE ON FOX BUSINESS

FOX Business' Jonathan Garber contributed to this report.