Bed, Bath & Beyond beefs up e-commerce efforts
UNION, N.J. — Bed Bath & Beyond is accelerating its plans to go deeper into e-commerce space with the acquisition of PersonalizationMall.com for $190 million.
The retailer has acquired PersonalizationMall.com (PMall.com), an online retailer of personalized products based in Burr Ridge, Ill., for approximately $190 million in cash, which reflects certain closing adjustments.
Bed Bath & Beyond said the acquisition of PMall.com expands the company's existing assortment in the growing product personalization category and brings a complementary portfolio of differentiated products that commemorate all of life's events and special occasions such as weddings, birthdays, holidays and the welcoming of a child.
"We are delighted to welcome PersonalizationMall.com to Bed Bath & Beyond. They have built a tremendous business, and we are excited to support them as they advance their industry-leading position within the growing category of product personalization," stated Steven H. Temares, CEO and member of the board of directors of Bed Bath & Beyond Inc.
Bed Bath & Beyond funded the transaction using cash on hand, and expects the acquisition to be slightly accretive to its net earnings per diluted share for fiscal 2016. The acquisition of PMall.com is not anticipated to have a material effect on Bed Bath & Beyond's fiscal 2016 third quarter. The company's fiscal 2016 third quarter results are scheduled to be reported on Dec. 21.
BJ’s Wholesale Club members can now ‘Run on Dunkin’
CANTON, Mass. — BJ's Wholesale Club will open Dunkin Donuts restaurants in its clubs throughout the Metro New York area.
The new full-service restaurants will offer Dunkin' Donuts' complete menu of food and beverages including new items such as Cold Brew, seasonal Crème Brulée and Peppermint Mocha Macchiatos, Lattes and Coffee, and Boston Kreme Croissant Donuts.
"We're excited to have Dunkin' Donuts open in our BJ's Wholesale Club locations throughout the Metro New York area," said Chris Baldwin, president and CEO, BJ's Wholesale Club. "We've received great feedback from our Members about the full-service locations that have already opened and are pleased to offer Dunkin' Donuts' delicious beverage and food options to our Members at additional locations throughout the region."
BJ's Wholesale Club said that in order to maintain the integrity of each location, Dunkin' Donuts has used a variety of store models to suit each particular BJ's Wholesale Club so members can enjoy an excellent in-club experience in a one-stop shopping destination.