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Beyond Inc - OSTK STOCK NEWS

Welcome to our dedicated page for Beyond news (Ticker: OSTK), a resource for investors and traders seeking the latest updates and insights on Beyond stock.

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.

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tZERO, a leader in blockchain technology for digital assets, released an investor letter detailing significant progress in 2020. Key achievements include a 10x increase in digital securities traded, a 318% growth in the tZERO Crypto app, and onboarding Overstock's digital preferred dividend (OSTKO). For 2021, tZERO plans to enhance oversight through Pelion Venture Partners and seeks to raise capital to accelerate growth. The company aims to democratize access to private capital markets and merge trading experiences for various asset types. CEO Saum Noursalehi expresses optimism for future prospects.

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tZERO, a leader in blockchain innovation, announced a strategic partnership with Prime Trust to enhance digital asset custody and trading. This collaboration aims to replace outdated financial systems with advanced technology, enabling users to directly custody digital securities and cryptocurrencies. The partnership includes a technology agreement that streamlines transaction processes and improves trading experiences. Additionally, tZERO ATS is pursuing self-clearing capabilities for better operational flexibility. This initiative represents a significant step forward in modernizing digital asset trading and custody.

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Overstock (OSTK) has announced the conversion of its blockchain subsidiary, Medici Ventures, into a limited partnership with Pelion Venture Partners as the general partner. This strategic move aims to enhance shareholder value by leveraging Pelion's expertise in early-stage blockchain investments. Overstock's total commitment to the fund is $45 million, with a focus on successful exits from investments, including a significant stake in tZERO Group. The investor call is scheduled for January 26, 2021, at 8:30 a.m. ET, to discuss these developments.

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Overstock.com (NASDAQ:OSTK) announced that Canadian investors can now trade its Series A-1 preferred shares (OSTKO) through Echelon Wealth Partners, utilizing the tZERO ATS platform. CEO Jonathan Johnson emphasized the importance of enhancing access to these shares. Echelon, a prominent Canadian wealth management firm, manages over $6 billion in assets and serves various clients across the country. Interested investors can contact Echelon for transactions related to OSTKO shares.

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Overstock.com (NASDAQ:OSTK) announced its participation in the Needham & Co. 23rd Annual Growth Conference, where CEO Jonathan Johnson and CFO Adrianne Lee will present. The virtual conference is scheduled for January 14 at 10:00 AM EST. Johnson expressed gratitude for the opportunity to share Overstock's growth narrative, emphasizing its relevance in the current investment landscape. Overstock is a prominent e-commerce retailer, known for its blockchain advocacy and broad range of low-priced home products.

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tZERO has completed a technology integration with FlexTrade, enabling D.A. Davidson to commence trading on the tZERO ATS for Overstock's Series A-1 shares (OSTKO). This marks a crucial milestone in enhancing investor participation, with D.A. Davidson's customers gaining access to innovative digital securities. Currently, tZERO ATS boasts seven active subscribers and has signed two more agreements with broker-dealers interested in digital securities, further expanding its market presence.

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Overstock.com (NASDAQ:OSTK) announced its participation in the Credit Suisse 24th Annual Technology Conference on December 2, 2020. CEO Jonathan Johnson and CFO Adrianne Lee will engage in investor meetings and a fireside chat. Johnson expressed gratitude for the opportunity to connect with investors, emphasizing Overstock's commitment to transparent communication. The virtual conference will be accessible to registered attendees, aligning with Overstock's ongoing dialogue with the investment community.

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tZERO, a subsidiary of Overstock.com, has integrated its ATS with Refinitiv's financial data services, enhancing market visibility for digital securities. This enables over 40,000 institutions to access Level 1 market data on tZERO ATS, potentially increasing adoption of digital securities. CEO Saum Noursalehi highlighted the importance of this integration in broadening awareness and accessibility. However, the release also included a cautionary note on investment risks, including lack of liquidity and potential principal loss.

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Overstock.com has declared a cash dividend of $0.16 per share for its Series A-1 and Series B Preferred Stock, payable on December 16, 2020. Shareholders of record as of November 30, 2020 will be eligible. CEO Jonathan Johnson emphasized this marks the fourth consecutive year of dividend payouts and the highest amount ever distributed, showcasing the company's strong balance sheet. The ex-dividend date is projected for November 27, 2020.

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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.

Where can I find more information about Overstock’s updates?

More information about Overstock’s updates can be found on the Newsroom and Investor Relations pages of its website.

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