Current:Home > BackOverstock.com to rebrand as Bed Bath & Beyond after purchasing its assets-LoTradeCoin
Overstock.com to rebrand as Bed Bath & Beyond after purchasing its assets
View Date:2024-12-23 23:36:14
Overstock.com is rebranding as Bed Bath & Beyond after purchasing the big-box retailer's intellectual property assets at a bankruptcy auction last week.
The e-commerce giant bid $21.5 million for Bed Bath & Beyond's website and domain names, trademarks, patents, customer database and loyalty program data, among other assets under the company's banner. Its marriage with the once-popular retailer will enable both companies to offer customers a wide selection of home furnishings, kitchen, bedding and bath-related products through a single online storefront, Overstock CEO Jonathan Johnson said.
"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," Johnson said in a statement.
The company is also "considering whether and how to reinstate expired Welcome Rewards points," although it will not accept expired Bed Bath & Beyond coupons, Johnson told CBS MoneyWatch. Still, he promised good bargains on the revamped website.
"I expect customers will find better deals on our site than they would have found previously at Bed Bath & Beyond with a coupon," Johnson said.
Overstock will re-launch Bed Bath & Beyond's domains in both Canada and the U.S., with Bedbathandbeyond.ca going live within the next week, the company said. A "refreshed" version of the U.S. mobile app, loyalty program and website, bedbathandbeyond.com, will debut a few weeks later.
Overstock did not purchase Bed Bath & Beyond's brick-and-mortar stores, which will close this summer as planned.
A bankruptcy court approved Overstock's bid for Bed Bath & Beyond's assets at a hearing earlier this week.
Bed Bath & Beyond filed for bankruptcy in April after struggling to adapt to a surge in online shopping. Before filing for bankruptcy, the company had experienced years of declining sales.
- In:
- Bankruptcy
- Bed Bath & Beyond
- Chapter 11 Bankruptcy
veryGood! (9536)
Related
- Florida education officials report hundreds of books pulled from school libraries
- Kia, Volkswagen, Subaru, and Audi among 208,000 vehicles recalled: Check car recalls here
- Josh Duhamel and Wife Audra Mari Duhamel Expecting First Baby Together
- Luis Rubiales resigns as Spain's soccer federation president after unwanted World Cup kiss
- 2 dead in explosion at Kentucky factory that also damaged surrounding neighborhood
- Indigenous tribes urge federal officials to deny loan request for Superior natural gas plant
- Up First Briefing: Google on trial; Kim Jong Un in Russia; green comet sighting
- Wisconsin wolf hunters face tighter regulations under new permanent rules
- Footage shows Oklahoma officer throwing 70-year-old to the ground after traffic ticket
- Police in Jamaica charge a man suspected of being a serial killer with four counts of murder
Ranking
- A list of mass killings in the United States this year
- Who Is Alba Baptista? Everything to Know About Chris Evans' New Wife
- Novak Djokovic reveals the first thing he wanted to do after his U.S. Open win
- In the Michigan State story, Brenda Tracy is the believable one. Not coach Mel Tucker.
- Man killed in Tuskegee University shooting in Alabama is identified. 16 others were hurt
- Thousands dead in Moroccan earthquake, 22 years since 9/11 attacks: 5 Things podcast
- Trump files motion to have judge in federal election interference case disqualified
- How an extramarital affair factors into Texas Attorney General Ken Paxton’s impeachment trial
Recommendation
-
GM recalling big pickups and SUVs because the rear wheels can lock up, increasing risk of a crash
-
Oklahoma assistant Lebby sorry for distraction disgraced father-in-law Art Briles caused at game
-
Rhino kills a zookeeper and seriously injures another at an Austrian zoo
-
Texas is back? Alabama is done? College football overreactions for Week 2
-
Does the NFL have a special teams bias when hiring head coaches? History indicates it does
-
In flood-stricken central Greece, residents face acute water shortages and a public health warning
-
When is the next Powerball drawing? What to know as jackpot increases to $522 million
-
How an extramarital affair factors into Texas Attorney General Ken Paxton’s impeachment trial