Tuesday, August 25, 2009

1-800-Flowers Selling Home/Children's Gift Units

According to Multichannel Merchant magazine, 1-800-Flowers.com said in releasing its fourth-quarter and fiscal year financial results that it has divested its Home and Children’s Gifts business segment.

The company aims to sell the Home and Children’s Gifts category titles, which include Plow & Hearth; HearthSong; Magic Cabin; Wind and Weather; and Problem Solvers.

1-800-Flowers.com CEO Jim McCann said in a statement the company will focus its efforts and investments on its key Floral and Gourmet Foods and Gift Baskets business categories which it believes “better leverage our business platform and offer the greatest opportunity for top and bottom-line growth in the years ahead.”

As a result, McCann said, “we have classified the segment as a discontinued operation.” But he noted that the Home & Children’s Gifts segment’s day-to-day business activities “will remain unchanged while we work toward a potential sale.”

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