tldrdaily.news logo
Tag

Overstock

All articles tagged with #overstock

business2 years ago

Bed Bath & Beyond Shareholders Brace for Bankruptcy Hearing, Face Worthless Stock

Shareholders of Bed Bath & Beyond are at risk of losing their investments as the company's bankruptcy hearing approaches. Despite filing for Chapter 11 bankruptcy and closing its physical stores, the company's stock continues to trade at high volumes. Overstock acquired Bed Bath & Beyond's intellectual property and relaunched the business as an online-only retailer. The original company's assets will be liquidated, leaving common shareholders with little to no recovery. The company's market cap of $152.25 million essentially amounts to nothing for shareholders, who fall behind bondholders in the reimbursement hierarchy. The confirmation hearing for the bankruptcy plan is scheduled for September 12.

via CNBC|
#bankruptcy#bed-bath-and-beyond#business
business2 years ago

Overstock CEO transforms Bed Bath & Beyond into online retail powerhouse

Overstock.com has officially relaunched as BedBathandBeyond.com in the United States after acquiring the bankrupt retail chain's intellectual property assets. The revamped e-commerce site offers 600,000 new products, including brand names in the kitchen, bed, and bath categories, at lower prices. Overstock CEO Jonathan Johnson sees potential in combining the best parts of Bed Bath & Beyond and Overstock to create an asset-light, e-commerce retailer with an expanded home furnishing and furniture assortment. The relaunch has already seen success in Canada, with increased revenue and higher conversion rates. The site will initially focus on kitchen, bed, and bath products but will also offer furniture and other home categories. Johnson expects better prices for customers due to the asset-light business model.

via Fox Business|
#bed-bath-and-beyond#business#e-commerce
business2 years ago

Overstock.com undergoes rebranding as Bed Bath & Beyond, shifts to online-only sales

Overstock has completed its acquisition of Bed Bath & Beyond's intellectual property, including the brand, customer database, and website domain. Overstock will rebrand itself as Bed Bath & Beyond and transition its loyalty program to the new name. The company plans to launch the website and app in the United States in August and September, with a goal of fully phasing out the Overstock name by the end of 2023.

via USA TODAY|
#acquisition#bed-bath-and-beyond#business
business2 years ago

Overstock.com Rebrands as Bed Bath & Beyond in $21.5M Deal

Overstock.com has acquired the intellectual property of Bed Bath & Beyond for $21.5 million and will rename its website to use the Bed Bath & Beyond branding. The move is part of Overstock's strategy to capture more market share in the home goods and furniture space. The CEO of Overstock, Jonathan Johnson, believes that adopting the Bed Bath & Beyond name will help overcome the headwinds associated with the Overstock brand and attract more customers and suppliers. The company plans to expand its product offerings and maintain the popular loyalty program of Bed Bath & Beyond.

via Yahoo Finance|
#bed-bath-and-beyond#business#home-goods
business2 years ago

Overstock Acquires Intellectual Property, Rebrands as Bed Bath & Beyond

Online retailer Overstock.com has purchased the intellectual property of bankrupt home-goods store Bed Bath & Beyond for $21.5 million. Overstock plans to rename its website, mobile app, and rewards program as Bed Bath & Beyond, starting with a rollout in Canada in July. The change will redirect US customers to bedbathandbeyond.com after the final Bed Bath & Beyond stores close in August. Overstock is also considering renaming its entire business. The acquisition gives Overstock access to customer data and the opportunity to expand its customer base, although it expects a decline in second-quarter revenue. The company plans to hire former Bed Bath & Beyond employees during the integration process.

via The New York Times|
#bed-bath-and-beyond#business#intellectual-property
business2 years ago

Overstock.com Rebrands as Bed Bath & Beyond

Utah-based online retailer Overstock will change its name to Bed Bath & Beyond as it acquires the bankrupt retailer's intellectual property for $21.5 million. The change will roll out in Canada in early July and in the United States in August, with customers being redirected to bedbathandbeyond.com. Overstock's mobile app and rewards program will also be rebranded, and the company plans to bring back Bed Bath & Beyond's wedding registry. Overstock is considering renaming its business entirely, but for now, it aims to transition quickly to the Bed Bath & Beyond name. The acquisition provides Overstock with customer data and the opportunity to expand its customer base, although it expects a decline in revenue for the second quarter.

via Salt Lake Tribune|
#acquisition#bed-bath-and-beyond#business
business2 years ago

Overstock acquires Bed Bath & Beyond's intellectual property assets for $21.5M.

Overstock.com will acquire Bed Bath & Beyond's intellectual property and digital assets for $21.5 million, pending approval from New Jersey's bankruptcy court. The deal excludes Bed Bath & Beyond's physical stores. Two backup bidders were also selected for specific brands. Bed Bath & Beyond filed for Chapter 11 bankruptcy in April due to plunging sales and competition from other retailers. Overstock's acquisition of the brand's online business is seen as a great opportunity, but success will depend on execution.

via The Washington Post|
#bankruptcy#bed-bath-and-beyond#business
business2 years ago

Overstock outbids competitors for Bed Bath & Beyond's intellectual assets.

Overstock has offered $21.5 million to acquire Bed Bath & Beyond's intellectual property and other assets, excluding brick-and-mortar stores. Bed Bath & Beyond filed for Chapter 11 bankruptcy in April after failing to raise $300 million in capital. The company is soliciting bids until Friday, and if there are more offers, there will be an auction on June 21. Overstock is an online-only home furnishing marketplace that has seen business boom during the pandemic.

via The Washington Post|
#bankruptcy#bed-bath-and-beyond#business
environment2 years ago

"$30M Worth of Funko Pops End Up in Landfill"

Images have emerged of unopened boxes of Funko Pop! figures, worth $30 million, at dumps and landfills after the pop culture collectible company announced it was going to throw them away due to overstocking. Before being dumped, the boxes are shredded and sorted for recycling or landfill. Funko has been paying high rental fees to store additional stock in shipping containers until it can find space for them. The move to trash them is apparently cheaper than finding storage space. The wastefulness and corporate greed at the expense of consumers has been criticised.

via Kotaku|
#corporate-greed#environment#funko