Bed Bath & Beyond’s Makeover Continues: Home Goods Retailer Looks To Offload More Brands

As Bed Bath & Beyond (BBBY) continues its strategy to overhaul its business, the home goods retailer is reportedly looking to offload its Christmas Tree Shops and Cost Plus World Market brands.

The news of the possible sale was first reported by sources for Bloomberg.

Bed Bath & Beyond’s Christmas Tree Shops brand has more than 70 stores in 21 states, while Cost Plus World Market has about 260 locations, according to the website. Bed Bath & Beyond purchased the Christmas Tree Shop brand in 2003 and the Cost Plus World Market brand in 2012.

Bed Bath & Beyond previously said it would review its portfolio of brands. The company sold off its One Kings Lane brand, which it acquired in 2014, and PersonalizationMall.com, which it purchased in 2016, earlier this year.

Under the leadership of former Target executive, Mark Tritton, Bed Bath & Beyond is looking to turnaround its business after seeing declining sales, resulting in the closure of 40 underperforming stores in 2020.

The company also recently cut hundreds of workers from a call center in Utah after Tritton shook up six members of his executive team at the end of 2019.

Bed Bath & Beyond was forced to close all of its stores in March because of the coronavirus pandemic. The company has since started reopening about 600 locations, in addition to offering curbside service at several of its stores.

Bed Bath & Beyond also owns the buybuyBaby and Harmon Face Values brands.

Bed Bath & Beyond stock was trading at $10.11 per share at 11:02 p.m. EDT, up $0.14 from 1.45%.