Bed Bath & Beyond to Sell Online Gift Unit in Turnaround Bid (1)

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 personalized gift company for $252 million to 1-800-Flowers.com, it said Tuesday in a statement. PersonalizationMall.com will continue to provide products and services to Bed Bath & Beyond and its Buybuy Baby unit after the deal closes, which is expected in its fiscal 2020 first quarter.

Bed Bath & Beyond is trying to reverse flagging sales eroded by competition from online retailers, discounters and big ...