Salt Lake City – With its acquisition of BBB’s intellectual property recently approved by the bankruptcy court, Overstock is wasting no time in leveraging the brand.
Moments after trading closed at 4 p.m. ET today, the specialty e-commerce retailer released select details about what comes next. The big take-away: the company is transitioning its e-commerce business to a single Bed Bath & Beyond domain.
Key things to know:
- Within the next week, the Bed Bath & Beyond domain in Canada will relaunch.
- Within a few weeks, Overstock will relaunch Bed Bath & Beyond in the U.S. with a refreshed website, mobile app and loyalty program.
- Overstock is re-branding its Club O loyalty program to Welcome Rewards, which was the name of BBB’s loyalty program.
“Combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a power synergy,” said Overstock CEO Jonathan Johnson.
The move will improve the customer experience and “position the company for accelerated market share growth,” he said.
Overstock will hold a web call tomorrow morning at 8:30 a.m. ET to discuss its plans. Access to the live webcast will be available on the investor relations section of its website.
Ahead of the call, Overstock today released some preliminary data about its Q2: a revenue decline in the low-20% range. The company said it still expects to deliver positive adjusted EBITDA for the quarter.
