Overstock.com Announces Grand Reopening
July 18 2024 - 8:30AM
Business Wire
—Management Encouraged by Accelerating Revenue
Run-Rate in First 90 Days —
— New Categories Including Closeouts,
Liquidation, Reverse Logistics, and Factory Direct, in Addition to
Core Legacy Categories, Drive Growth Plan —
Beyond, Inc. (NYSE:BYON), owner of Overstock, Bed Bath &
Beyond, Zulily, and other online retail brands designed to unlock
your home’s potential, today announced Overstock’s highly
anticipated Grand Reopening.
The revived Overstock.com, with a new look and feel, now has an
inventory lineup that includes closeouts, liquidation, factory
direct, and reverse logistics merchandise, as well as expanded new
and legacy categories. Plans for the site feature millions of
products in categories such as indoor and outdoor furniture,
apparel and footwear, rugs, decor, lighting, jewelry and watches,
sports and entertainment collectibles, home improvement, luggage,
storage and organization, kids and baby, and pet.
“As you visit the site today, it’s clear that we’re not just
rebuilding legacy Overstock, but expanding the total offering into
the vast white space that exists through categories including
excess and distressed inventory,” said Dave Nielsen, President of
Beyond, Inc. “I am encouraged by our accelerating revenue run-rate
in our first 90 days and see growth potential.”
“It is our plan to ultimately penetrate multiple industries
where we know there is a tremendous need to bring buyers and
sellers together for a true win-win,” said Marcus Lemonis,
Executive Chairman of Beyond, Inc. “We believe that our company can
be an online leader, helping manufacturers, retailers,
distributors, and lenders solve complex inventory problems in order
to generate cash and improve their own profitability while creating
a frequently visited, value-centric destination for consumers. This
isn’t just about relaunching Overstock, but rather reimagining its
significant possibilities. We will continue to establish
partnerships and joint ventures to create product and deal flow, as
well as unique ways to monetize the Overstock brand.”
About Beyond
Beyond, Inc. (NYSE:BYON), based in Midvale, Utah, is an
ecommerce expert with a singular focus: connecting consumers with
products and services that unlock their homes’ potential. The
Company owns Overstock, Bed Bath & Beyond, Baby & Beyond,
Zulily, and other related brands and associated intellectual
property. Its suite of online shopping brands features millions of
products for various life stages that millions of customers visit
each month. Beyond regularly posts information about the Company
and other related matters on the Newsroom and Investor Relations
pages on its website, Beyond.com.
Beyond, Bed Bath & Beyond, Welcome Rewards, Zulily,
Overstock and Backyard are trademarks of Beyond, Inc. Other service
marks, trademarks and trade names which may be referred to herein
are the property of their respective owners.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact, including but not limited to
statements regarding plans for the Overstock and the Grand
Reopening, growth potential for any time period, plans to establish
partnerships and joint ventures, future promotions and product
offerings, business results, and timing and duration of any of the
foregoing. Additional information regarding factors that could
materially affect results and the accuracy of the forward-looking
statements contained herein may be found in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2023,
filed with the SEC on February 23, 2024, on Form 10-Q for the
quarter ended March 31, 2024, filed with the SEC on May 8, 2024,
and in our subsequent filings with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240718378581/en/
Alexis Callahan, VP of Investor Relations & Public Relations
ir@beyond.com pr@beyond.com
Beyond (NYSE:BYON)
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