Roughly one year after renaming itself Bed Bath & Beyond, the company formerly known as Overstock.com is rethinking the decision.
The company has officially relaunched the Overstock.com brand as a stand-alone site, giving it an expanded inventory and a new look. The Bed Bath & Beyond digital storefront will continue to exist, with a greater focus on the kitchen, bedroom, and bathroom categories. Overstock bought the Bed Bath & Beyond brand for $21.5 million in June of 2023.
The move has been a long time coming. On a February earnings call, Beyond executive chairman Marcus Lemonis said closing Overstock.com was a “fatal mistake.” Plans were announced to bring back Overstock.com, with a soft launch debuting in March.
The new Overstock will be a lot like the legacy one, with a focus on indoor and outdoor furniture, rugs, decor, and lighting, but the company plans to expand the offerings to include everything from apparel and pet supplies to collectibles.
Former CEO Jonathan Johnson was responsible for the change from Overstock to Beyond. He stepped down after 20 years of overseeing the company on the day the company name change was made official, amid pressure from an activist hedge fund.
“We are optimistic that in its full mature state, that Bath has the potential to be north of a billion-dollar brand, with positive contribution and a higher frequency of visits,” Lemonis said on an earnings call in May.
Beyond/Overstock saw sales peak in 2021, when it hit $2.76 billion. Last year, that total fell to $1.56 billion, on a combination of underperformance from the Website and weakening consumer demand. The soft launch of Overstock.com’s return exceeded expectations, though, the company said in May. That’s giving it hope that the dual-prong approach to online retail can help it regain momentum in the months to come.
