Bed Bath & Beyond sells One Kings Lane
The upscale, digitally native home décor retailer One Kings Lane has a new owner.
On an earnings call on Wednesday, Bed Bath & Beyond CEO Mark Tritton said that the company had sold its One Kings Lane division. But he did not name the price or the buyer. Bed, Bath & Beyond bought the upscale retailer, founded in 2009, in 2016 for a price it described at the time as "nonmaterial.”
Bed, Bath & Beyond’s plan to sell another unit failed to close on schedule, with the previously announced sale of its PersonalizationMall.com business to 1-800-Flowers.com Inc. for $252 million not closing at the end of March as planned. Tritton said that Bed Bath & Beyond had taken action to force 1-800-Flowers to close the deal.