#BED AND BEYOND UPDATE#

's winning bid: wins Bed Bath & Beyond assets with $21. The Overstock domain will redirect traffic to the new Bed Bath & Beyond website, and the company hopes to sunset the Overstock name for good by the end of 2023. “I’m excited for consumers to experience the new Bed Bath and an even bigger and better Beyond,” Johnson said. It also will rebrand Overstock's Club O loyalty program, which will now be 'Welcome Rewards' and continue to offer 5% rewards dollars on purchases. To avoid bankruptcy, the retailer has three weeks to squeeze another 300.

The brand will launch in Canada next month, with a plan to launch the website and app in the United States in August and September, just in time for Labor Day, Johnson said. Johnson said the company will continue to operate the stores online. We offer quality, new, on-trend product at smart value.”Īnd the brand's transition to home products was difficult, because the Overstock name restricted its ability to attract customers who either 'expected deep liquidation prices' or still thought Overstock was a general merchandise retailer. “We are not a liquidator and have not been one for 20 years. “We knew the Overstock name reflected our prior liquidation model and that it did not align with the type of products we now sell,” Johnson said. In a Thursday call with investors detailing the acquisition, Johnson said he'd been asked multiple times to change the company's name. 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, said Jonathan Johnson, chief executive officer of Overstock.

#BED AND BEYOND UPDATE#

“Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace. Whether you’re looking to equip your house with the basics like bedding and cookware or looking to give your space a stylish update with home décor, the Bed Bath & Beyond® store in Louisville has everything you want and everything you didn’t know your home needed. Overstock will also rebrand its loyalty program and transition to the Bed Bath & Beyond domain.

On Wednesday, Overstock announced in a press release it completed the acquisition process, which includes the Bed Bath and Beyond brand, customer database, and website domain among other intellectual property. Overstock, the popular online furniture and home retail store, is rebranding itself under the name after winning a $21.5 million auction for Bed Bath & Beyond’s intellectual property. Watch Video: US worker shortage makes hiring difficult

Bed and beyond