Overstock.com to Source Technology Product Lines From Ingram Micro
December 12 2005 - 2:10PM
PR Newswire (US)
SALT LAKE CITY, Dec. 12 /PRNewswire-FirstCall/ -- Overstock.com(R)
(NASDAQ:OSTK) today announced it will expand its technology
business product line available via a customer relationship with
Ingram Micro Inc. (NYSE:IM), the world's largest technology
distributor. This new relationship will provide a direct avenue for
the distributor and technology manufacturers to remediate their
excess, obsolete and end-of-life inventory through Overstock.com.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a)
As part of the agreement, Overstock.com will have access to a
broader portfolio of technology products to offer through its Web
site, primarily focused on consumer electronics and retail-focused
product lines, as well as select products traditionally offered
through corporate computer dealers. "Overstock.com has established
itself as a household name in the online retail industry and we are
pleased to be joining with them to help expand their technology
offering," said Tim Billing, vice president, retail sales, Ingram
Micro North America. "As product cycles accelerate and the speed of
innovation drives earlier product obsolescence, the tremendous need
of what to do with end-of-life type inventory grows. This
relationship is a great solution." "We are pleased to be working
with the world's largest technology distributor, as Ingram Micro's
technology and service solutions are second to none in the
industry," said Patrick Byrne, president, Overstock.com. "This
relationship will enable us to provide a more comprehensive IT
product line, giving customers more products and brands from which
to choose in today's competitive market." Overstock.com offers a
vast selection of brand name merchandise across several product
categories including apparel, accessories, jewelry, watches,
sporting goods, consumer electronics, housewares, furniture,
bedding, travel, books, DVDs and more, all at discounts of up to 70
percent off retail prices. The combination of low prices, quality
products, and 24-hour live customer service has made Overstock.com
a favorite shopping destination among savvy consumers and
businesses. In fact, according to Hitwise, Overstock.com is now the
fifth most visited online "department store" in the United States.
About Overstock.com Overstock.com, Inc. is an online "closeout"
retailer offering discount, brand-name merchandise for sale over
the Internet. The company offers its customers an opportunity to
shop for bargains conveniently, while offering its suppliers an
alternative inventory liquidation distribution channel.
Overstock.com, headquartered in Salt Lake City, is a publicly
traded company listed on the NASDAQ National Market System and can
be found online at http://www.overstock.com/. About Ingram Micro As
a vital link in the technology value chain, Ingram Micro creates
sales and profitability opportunities for vendors and resellers
through unique marketing programs, outsourced logistics services,
technical support, financial services, and product aggregation and
distribution. The company serves 100 countries and is the only
global IT distributor with operations in Asia. Visit
http://www.ingrammicro.com/. Ingram Micro and the registered Ingram
Micro logo are trademarks used under license by Ingram Micro Inc.
Overstock.com is a registered trademark of Overstock.com, Inc. All
other trademarks are the property of their respective companies.
This press release contains certain 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, but are not limited to,
statements regarding products offered, increased selection, the
timeframe in which Ingram Micro will begin selling products on
Overstock.com, the savings offered, and such other risks as
identified in our Form 10-K for the year ended December 31, 2004,
and all our subsequent filings with the Securities and Exchange
Commission, which contain and identify important factors that could
cause the actual results to differ materially from those contained
in our projections or forward-looking statements.
http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a
http://photoarchive.ap.org/ DATASOURCE: Overstock.com CONTACT:
Media, Scott Blevins, +1-801-947-3133, , or investors, Kevin Moon,
+1-801-947-3282, , both of Overstock.com, Inc.; or media, Chris
Kelly of Ingram Micro, Inc., +1-714-382-3355, Web site:
http://www.ingrammicro.com/ http://www.overstock.com/
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