KANSAS CITY, Kan., Sept. 13, 2018 /PRNewswire/ -- The Kansas
City Area Development Council (KCADC) announced today that
Overstock.com, Inc. (NASDAQ: OSTK), one of the world's largest
online home goods and furniture retailers, will open a distribution
center in Kansas City, Kansas. The
new 517,000-square-foot operation, located at 5300 Kansas Avenue,
will create more than 100 jobs within the next two years.
The Utah-based eCommerce
leader, founded in 1999, plans to start outbound delivery
operations from the new KC facility in October 2018. Overstock intends to expand the
distribution center's operations to include returns processing in
the future. The new warehouse is strategically positioned to allow
Overstock the ability to offer two-day ground shipping to nearly
every customer in the contiguous United States.
"Selecting Kansas City as the home of Overstock's newest
fulfillment center allows us to offer over 99% of our U.S.
customers two-day shipping options, improving shopping experiences
by getting orders into the customer's hands as soon as possible,"
said Overstock.com Vice President of Supply Chain, Carroll Morale. "We're extremely thankful for
all of the support and collaboration we've received from state and
local officials and the Kansas City Area Development Council during
this expansion process."
Tim Cowden, president and CEO,
Kansas City Area Development Council, said, "Overstock.com joins a
growing community of eCommerce retailers finding significant
benefits to a KC location, including CVS, Amazon, Jet.com and a
number of automotive businesses."
In 2017 alone, Kansas City saw
growth in distribution and fulfillment facilities from 100,000 to
1.2 million square feet, which included eCommerce companies like
Amazon and Hy-Vee Aisles, major retailers like Dollar Tree, and
companies like Spectrum Brands and Horizon Global.
KCADC was proud to work with several regional partners in
attracting Overstock.com to the region: State of Kansas, Kansas Department of
Commerce, Wyandotte County Economic Development Council, Board of
Public Utilities, Newark Grubb Zimmer, QPS Employment, Focus
Workforce Management, Express Employment Professionals, IMKO
Workforce Solutions and KC SmartPort.
About Overstock.com
Overstock.com, Inc. Common
Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures' tZERO
platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an
online retailer based in Salt Lake City,
Utah that sells a broad range of products at low prices,
including furniture, décor, rugs, bedding, and home improvement. In
addition to home goods, Overstock.com offers a variety of products
including jewelry, electronics, apparel, and more, as well as a
marketplace providing customers access to millions of products from
third-party sellers. Additional stores include Pet Adoptions and
Worldstock.com dedicated to selling artisan-crafted products from
around the world. Forbes ranked Overstock in its list of the Top
100 Most Trustworthy Companies in 2014. Overstock regularly posts
information about the company and other related matters under
Investor Relations on its website, www.overstock.com.
About KCADC
The Kansas City Area Development Council
serves the 18-county, two-state Kansas
City area by marketing the region's business and lifestyle
assets to companies around the world. Working closely with its 50+
state, county and community partners the region has attracted more
than 60,000 new jobs over its 40-year history. KCADC also leads the
efforts behind KC SmartPort, the KC Animal Health Corridor and
TeamKC. www.thinkkc.com
About KC SmartPort
KC SmartPort is the authority on
logistics opportunities in the 18-county, bi-state Kansas City region. A non-profit
economic development organization, KC SmartPort promotes and
enhances the Kansas City region's
status as a leading North American logistics
hub. www.KCSmartPort.com
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SOURCE Kansas City Area Development Council