Markets FLWS

1-800-FLOWERS.COM To Sell PersonalizationMall, Things Remembered For $45 Mln

(RTTNews) - 1-800-FLOWERS.COM Inc. (FLWS), a floral and gourmet foods gift retailer and distribution company, on Tuesday announced that it has agreed to sell PersonalizationMall.com and Things Remembered to PlanetArt LLC for approximately $45 million in cash.

The transaction is subject to customary closing conditions.

The deal is targeted to close within the coming weeks.

The company said the sale will help simplify its business and increase its focus on its primary brands.

The companies also expect to enter into a commercial agreement allowing 1-800-FLOWERS.COM to continue offering select PersonalizationMall.com products to customers.

The company's fiscal 2027 guidance provided on September 10 did not include the impact of the transaction.

The company is evaluating the transaction's impact on its fiscal 2027 financial results.

The company expects to update its fiscal 2027 guidance with its fiscal 2027 first-quarter earnings release.

In pre-market trading, 1-800-FLOWERS.COM Inc. is 1.52% lesser at $2.6000 on the Nasdaq.

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