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Overstock.com, Inc. (NASDAQ: OSTK) is a prominent online retailer specializing in home furnishings and furniture. Based in Salt Lake City, Utah, Overstock has recently undergone a significant transformation by acquiring the beloved consumer brand, Bed Bath & Beyond. This strategic move has revitalized the Bed Bath & Beyond brand, merging the strengths of both companies into a single, comprehensive online shopping destination under the Bed Bath & Beyond name.

Overstock's rebranding initiative reflects its commitment to evolving with the times. The new Bed Bath & Beyond offers an extensive range of high-quality home products, including furniture, décor, area rugs, bedding, bath items, lighting, and home improvement essentials. Customers can now enjoy a seamless shopping experience through the newly launched BedBathandBeyond.com and its mobile app, which feature millions of products at competitive prices.

Jonathan Johnson, CEO of the new Bed Bath & Beyond, highlighted the rebranding's significance, stating, “This is a historic day for Bed Bath & Beyond and Overstock – and for the broader ecommerce industry.” The rebranding aims to modernize the business model, making Bed Bath & Beyond an asset-light, ecommerce-only retailer with a broader assortment of home furnishings and furniture.

One of the notable achievements post-rebranding includes the successful launch of bedbathandbeyond.ca in Canada on June 29, 2023, and bedbathandbeyond.com in the U.S. on August 1, 2023. These launches have garnered positive responses, with increased customer engagement and year-over-year order growth.

Financially, the company is on a positive trajectory. Recent updates indicate substantial growth in active customers, improved website visits, and better conversion rates. The company has also embraced a fixed cost restructuring plan to enhance long-term shareholder value, aiming for annualized cost savings of approximately $25 million.

Additionally, Bed Bath & Beyond has introduced an innovative gift registry platform in partnership with MyRegistry. This digital-first registry offers seamless social sharing, real-time gift feeds, pricing integration, and built-in gift management, providing a modernized experience for gift-givers and registrants alike.

Overstock, now operating as Bed Bath & Beyond, continues to post regular updates about its business and financial performance on its Newsroom and Investor Relations pages. The company’s strategic direction, technological innovations, and customer-centric approach position it as a key player in the ecommerce space, dedicated to connecting consumers with products they love.

01/11/2024 03:36 PM

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Bed Bath & Beyond Relaunches Its Market-Leading Gift Registry

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Bed Bath & Beyond, a Beyond, Inc. (NYSE: BYON) brand, announced a new and improved gift registry experience through a partnership with MyRegistry.com. The digital-first features include social sharing, live gift feed, real-time pricing integration, built-in gift management, native registry checkout/fulfillment, and a completion discount of 20 percent. The partnership aims to innovate and elevate the gift registry experience for customers celebrating life's major milestones.

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12/11/2023 08:30 AM

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Allison Abraham Retires as Co-Chair and Member of the Beyond, Inc. Board of Directors

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Beyond, Inc. (NYSE: BYON) announced that Marcus Lemonis will serve as the Chairman of the Board, as Allison H. Abraham retires from her position as a Director of the Company. The transition is expected to benefit the Company and the Board during the next phase of growth, following the recently completed brand acquisition of Bed Bath & Beyond.

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12/07/2023 08:30 AM

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Beyond Announces Participation in Fireside Chat Hosted by Needham & Company

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Beyond, Inc. (NYSE: BYON) to participate in a virtual fireside chat hosted by Needham & Company. Marcus Lemonis, Co-Chair of Beyond Board of Directors, Dave Nielsen, Interim CEO and President, and Adrianne Lee, CFO, will participate. Webcast and replay information available at investors.beyond.com.

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12/04/2023 08:30 AM

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Beyond Sets New Cyber 5 Sales Record, Revenue Grew 24% YoY

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Beyond, Inc. (NYSE: BYON) announced record Cyber 5 sales, with estimated net revenue growing 24% year-over-year. The company also initiated a fixed cost restructuring plan targeting approximately $25 million of annualized reductions by early 2025.

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11/30/2023 05:30 PM

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Beyond Board of Directors Unanimously Votes to Enhance Governance and Accountability through Declassification

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Beyond, Inc. (NYSE: BYON) has announced the approval of a declassification of the Board, subject to shareholder approval at the 2024 Annual Meeting of Stockholders. This decision aims to enhance corporate governance and accountability, transitioning each director to an annual election in 2025.

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11/29/2023 08:30 AM

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Allison Abraham and Marcus Lemonis to Serve as Co-Chairs of Beyond, Inc. Board of Directors

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Beyond, Inc. (NYSE: BYON) announced a restructure plan led by new Co-Chairs of the Board of Directors, Allison H. Abraham and Marcus Lemonis, to drive enhanced value for shareholders. The plan includes reducing costs, evaluating business lines, investments, and capital allocation, and increasing the active customer base.

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11/06/2023 08:00 AM

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Beyond, Inc., Formerly Overstock.com. Inc., Announces Leadership Transition

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Jonathan Johnson has stepped down as CEO of Beyond, Inc. and Bed Bath & Beyond. Dave Nielsen appointed as Interim CEO and President. Adrianne Lee, CFO, takes on expanded responsibilities. The company has undergone a corporate name change and transferred its stock listing to the NYSE.

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10/26/2023 06:00 AM

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Overstock Announces Third Quarter 2023 Financial Results

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Overstock.com, Inc. (NASDAQ:OSTK) reported financial results for Q3 2023, with a decrease in total net revenue of 19% YoY. The company acquired the Bed Bath & Beyond brand and saw nearly 300,000 quarter-over-quarter active customer growth. Orders have returned to positive YoY growth for the first time in over two years.

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10/24/2023 08:30 AM

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Overstock Heads into the Future as Beyond

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Overstock.com, Inc. will change its corporate name to Beyond, Inc. and transfer its stock listing from NASDAQ to NYSE effective November 6, 2023. The ticker symbol will change from OSTK to BYON. Beyond, Inc. will continue to operate its furniture and home furnishings ecommerce business under the Bed Bath & Beyond brand.

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10/12/2023 08:30 AM

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The New Bed Bath & Beyond Scheduled to Release Third Quarter 2023 Financial Results on October 26

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Overstock.com to release Q3 2023 financial results

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FAQ

What is Overstock.com, Inc. known for?

Overstock.com, Inc. is known for being a major online retailer specializing in home furnishings and furniture.

Why did Overstock rebrand to Bed Bath & Beyond?

Overstock acquired the Bed Bath & Beyond brand to modernize and expand its product offerings, creating a more comprehensive online shopping destination.

What products does the new Bed Bath & Beyond offer?

The new Bed Bath & Beyond offers a wide range of home products, including furniture, décor, area rugs, bedding, bath items, lighting, and home improvement essentials.

How can I shop at the new Bed Bath & Beyond?

Customers can shop at the new Bed Bath & Beyond through its website, bedbathandbeyond.com, or its mobile app.

What significant achievements has the new Bed Bath & Beyond made recently?

Recent achievements include the successful launches of bedbathandbeyond.ca in Canada and bedbathandbeyond.com in the U.S., as well as a positive response in customer engagement and order growth.

What is the financial outlook for the new Bed Bath & Beyond?

The company is experiencing growth in active customers, improved website visits and conversions, and has implemented a cost restructuring plan to enhance long-term shareholder value.

What is the fixed cost restructuring plan?

The fixed cost restructuring plan aims to save approximately $25 million annually by reducing the employee base, right-sizing facility footprint, renegotiating vendor contracts, and outsourcing certain functions.

What is the Bed Bath & Beyond gift registry platform?

The gift registry platform, in partnership with MyRegistry, offers a digital-first, seamless experience for social sharing, real-time gift feeds, pricing integration, and built-in gift management.

How can I create a gift registry at Bed Bath & Beyond?

Customers can create a gift registry at Bed Bath & Beyond by visiting bedbathandbeyond/registry or MyRegistry.com to add products from Bed Bath & Beyond to a universal registry.