Overstock.com Announces Grand Reopening
Business Wire 18-Jul-2024 8:30 AM
—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.
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