PETA Recognizes Overstock with Compassionate Business Award for Cashmere Ban

Rhea-AI Summary

Overstock.com (NASDAQ: OSTK) has been awarded the Compassionate Business Award by PETA for its commitment to cruelty-free products. The recognition is highlighted by Overstock's recent ban on cashmere and other animal-derived materials, including various furs and exotic skins. PETA commended Overstock for its leadership in animal-free commerce and its collaborative efforts to remove cashmere products from its website by the end of 2022. CEO Jonathan Johnson reaffirmed the company's dedication to animal protection and sustainable practices.

Positive

• Awarded the Compassionate Business Award by PETA for cruelty-free practices.
• Banned cashmere and other animal-derived materials, enhancing brand reputation.
• Positive collaboration with PETA, aligning with consumer preferences for sustainable products.

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• None.

SALT LAKE CITY, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ: OSTK), a leading online furniture and home furnishings retailer, is being recognized for its responsible business practices. PETA is awarding the leading retail company with the Compassionate Business Award for its ongoing support of and commitment to cruelty-free products. This recognition coincides with Overstock’s recent ban of products made from cashmere. The company previously banned products with other furs, including badger hair, mohair, angora, and alpaca. It has also banned products with exotic skins.

“Thanks to Overstock’s kind decision, fewer cashmere goats will be harmed for throw blankets,” says PETA Executive Vice President Tracy Reiman. “PETA is recognizing this conscientious company for being a leader in animal-free commerce and showing consumers that it’s easier than ever to shop vegan.”

Overstock and PETA have worked together to identify products made of cashmere and Overstock has already removed many of them from its website. The company commits that by the end of 2022, measures will be in place to ensure cashmere-made products are no longer offered on its e-commerce site.

“At Overstock, one of our core values is doing good. It’s a guiding principle in our business practices,” said Jonathan Johnson, CEO of Overstock. “We are committed to incorporating sustainable solutions that help protect the environment and are cruelty-free. We appreciate PETA’s collaboration with us and thank them for recognizing Overstock’s efforts.”

In celebration of Overstock’s commitment to animal protection and sustainable practices, PETA gifted Overstock with a vegan cake decorated with happy goats on green pastures under bright blue skies. PETA’s motto reads, in part, that “animals are not ours to wear.”

For more information on cruelty-free practices, please visit PETA.org or follow the group on Twitter, Facebook, or Instagram.

For more information about Overstock’s environmental, social, and governmental efforts, visit https://www.overstock.com/esg.

About Overstock

Overstock.com, Inc. (NASDAQ:OSTK) is an online furniture and home furnishings retailer and technology-focused innovator based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, area rugs, bedding and bath, home improvement, and more. The online shopping site features millions of products that tens of millions of customers visit each month. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.

O, Overstock.com, O.com, and Club O are registered trademarks of Overstock.com, 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 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 all statements other than statements of historical fact, including but not limited to statements regarding product offerings and the effects thereof. 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, 2021, which was filed with the SEC on February 25, 2022, our Form 10-Q for the quarter ended March 31, 2022, which was filed with the SEC on May 4, our Form 10-Q for the quarter ended June 30, 2022, which was filed with the SEC on August 2, 2022, our Form 10-Q for the quarter ended September 30, 2022, which was filed with the SEC on November 1, 2022, and in our subsequent filings with the SEC.

Contacts Investor Relations: Lavesh Hemnani ir@overstock.com

Media Relations: Sarah Factor pr@overstock.com

PETA Contact:

Robin Goist
202-697-3232
RobinG@peta.org

FAQ

What is the Compassionate Business Award given to Overstock?

PETA awarded Overstock the Compassionate Business Award for its commitment to cruelty-free products.

What products has Overstock banned recently?

Overstock has recently banned cashmere and other animal-derived materials, including various furs and exotic skins.

How is Overstock recognized for its animal-friendly practices?

Overstock is recognized for its leadership in animal-free commerce and its efforts to remove cashmere products from its e-commerce site.

What are Overstock's plans regarding cashmere products?

Overstock is committed to removing cashmere products from its website by the end of 2022.

Who is the CEO of Overstock and what do they say about animal protection?

CEO Jonathan Johnson emphasized Overstock's core value of doing good and its commitment to sustainable practices.