Bed Bath & Beyond says it’s still open to selling its BuyBuy baby division

A view of the atmosphere during the Whitney Port & Bundle Organics #MomAsYouAre buybuyBABY product launch in Torrance, Calif.

Randy Shropshire | Getty Images

as bed Bath and Beyond shakes Its leadership ousted the suit and its CEOThe retailer said Wednesday it’s open to another big change: a potential sale of its baby gear range, BuyBuy Baby.

“The business is a very lucrative business, and we’re not alone in appreciating its value,” interim CEO Sue Gove said on a call with analysts about whether sales were off the table. “We know there’s interest.”

For now, she said, the parent company is focusing on strategies to increase sales. This includes improving the division’s website and app and attracting more buyers to its baby registry.

The Baby Gear chain is also part of a new loyalty program, Welcome Rewards. The program started earlier this month. It allows shoppers to earn and redeem points when shopping online or in-store at any of the company’s three banners: Bed Bath & Beyond, BuyBuy Baby and personal care brand Harmon Face Values.

BuyBuy Baby has been the focus of a contentious battle between home goods retailer and active investor Ryan Cohen. In March, Cohen pointed to the baby gear banner as one of the company’s most valuable pieces, arguing that it could be worth several billion dollars, and Pushed for a spinoff or selloff. later he came an agreement with the companyAfter agreeing to add new board members and strategically review Buybuy Baby’s future options.

bed bath Stocks jumped in April Feather A Wall Street Journal report That the company was fielding interest for the division. At the time, the company did not respond to requests for comment.

The baby gear retailer has been one of Bed Bath’s bright spots, especially as customer traffic and sales have plummeted under its namesake banner. For example, in the holiday quarter, same-store sales for Bed Bath and Beyond stores declined 15% — but BuyBuy Baby’s same-store sales grew by low single-digits.

However, this trend did not persist in the recent three-month period. Same-store sales of BuyBuy Baby fell by the mid-single digits.

Harriet Edelman, who leads the board of directors as independent chair, said Wednesday that a committee of board members is working closely with strategic and financial advisors as it considers the future of BuyBuy Baby.

On calls with analysts, he described BuyBuy Baby as “a highly relevant banner with strong market positioning and favorable demographics.”

Over the past two years Bed Bath & Beyond has sold other pieces of its business including Christmas Tree Shops, Cost Plus World Market, PersonalizationMall.com and One Kings Lane.