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Bloomberg
Bed Bath & Beyond Inc is selling its PersonalizationMall.com business amid efforts to slim down, renew focus on its core home-furnishings business and reverse years of stagnant sales.
The company agreed to sell the online personalised gift company for $252 million to 1-800-Flowers.com, it said. PersonalizationMall.com will continue to provide products and services to Bed Bath & Beyond and its Buybuy Baby unit after the deal closes.
Bed Bath & Beyond is trying
to reverse flagging sales eroded by competition from online retailers, discounters and big box stores, and it hired Mark Tritton from Target last year to take over as CEO to help turn the company around.