Home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) announced on Tuesday it would be selling e-commerce site PersonalizationMall.com to 1-800-Flowers.com (NASDAQ: FLWS) as part of an effort to simplify the struggling company's businesses. The news follows last week's release of disappointing preliminary sales numbers for December and January, which were down 5.4% on a same-store basis, extending a long-standing streak of deteriorating results. Image Source: Getty Images. The omnichannel retailer has already taken drastic measures to curb weakening sales and establish a foundation for new growth. Long-tenured CEO Steven Temares was abruptly forced out by activist investors in May of last year, replaced by former Target (NYSE: TGT) executive Mark Tritton in October. In January of this year, the company announced it would be selling a wide swath of its own retail real estate, only to lease much of that square footage back from its new owners. That move netted Bed Bath & Beyond roughly $250 million in cash that could immediately be put to use as funding for the company's turnaround plans made public last month. The sale of PersonalizationMall.com to 1-800-Flowers.com will add another $252 million to the retailer's coffers sometime before the end of first calendar quarter of 2020. The prospect for a complete turnaround for Bed Bath & Beyond remains in question, particularly in light of the stock's 20% plunge following the release of its preliminary December and January sales numbers. Shares are up more than 5% on the news of the sale PersonalizationMall.com, however, suggesting the market believes the move is a step in the best direction. 10 stocks we like better than Bed Bath & BeyondWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Bed Bath & Beyond wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 James Brumley has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source