Business to relabel site Bed Bath & Beyond

A United Parcel Service employee loads orders onto a truck in the shipping location at the warehouse in Salt Lake City, Utah.

Ken James | Bloomberg | Getty Images is going all in on stopped working seller Bed Bath & Beyond.

The e-commerce house products seller will no longer pass its eponymous name online and will rather move under the Bed Bath & Beyond domain in the coming weeks after getting the insolvent competitor’s copyright, Overstock revealed Wednesday.

It will relaunch the Bed Bath & Beyond site in Canada within the next week, followed by a rollout of a site, mobile app and commitment program in the U.S. “weeks later.”

Overstock revealed the relocations as it finished its $21.5 million acquisition of Bed Bath’s copyright and digital properties. The business hopes the trademark name will assist to raise drooping sales.

“Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace,” Overstock CEO Jonathan Johnson stated in a declaration. “The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the Company for accelerated market share growth.”

Despite decreasing sales, Overstock’s stock has actually risen almost 32% this year. Overstock shares leapt almost 5% in prolonged trading Wednesday and likewise popped when it was very first exposed that it effectively won the auction for Bed Bath’s properties.

In its first-quarter lead to April, Overstock reported $381 million in profits, a 29% drop from the prior-year duration. The e-commerce seller published a bottom line of $10 million. Still, the seller’s outcomes was available in ahead of some price quotes, according to Street Account.

Overstock will not obtain any brick-and-mortar Bed Bath shops as part of the offer. The stopped working house products seller has actually been hosting a series of auctions for its myriad properties, including its shop leases and properties from its Buy Buy Baby banner.

A variety of bidders have actually revealed interest in Buy Buy Baby’s shops however it stays uncertain if any will be purchased and kept open.


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