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By Michael King
/ CNN
New York (CNN) — Overstock.com, one of the biggest names in e-commerce, is ditching its name for something just as recognizable: Bed Bath & Beyond.
The change comes following a judge’s approval of Overstock’s purchase of the bankrupt brand’s name, domain and loyalty program assets earlier this week for more than $21 million. However, the acquisition doesn’t include the Bed Bath & Beyond brick-and-mortar stores, which are closing.
Calling the acquisition a “significant and transformative step,” Overstock CEO Jonathan Johnson said in a press release that “combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a powerful synergy.”
Big news from Overstock today as we announce the acquisition of Bed Bath & Beyond intellectual property assets. $OSTK More info at: https://t.co/7rQnUz407h
Shoppers in Canada will see the changes first. Overstock plans to relaunch that country’s website with a new look, then follow weeks later with a new shopping experience using the Bed Bath & Beyond branding for the United States. Overstock’s loyalty program, Club O, is also being changed to Welcome Rewards, the name of Bed Bath & Beyond’s program.
Perhaps using the recognizable name could give Overstock sales a lift, which have sagged in recent quarters mirroring its rivals’ pains, including Wayfair. Both have experienced a slowdown in furniture and home goods sales after a pandemic-induced boom in 2020 and 2021 when many customers, unable to travel or go to the office, spent money redecorating their homes.
Meanwhile, the buybuyBaby chain, a former sister retailer of Bed Bath & Beyond, is being sold off in a separate sales process and is considered the most attractive part of the retailer’s assets. It remains unclear who is buying that portion of the business.
First published on June 29, 2023 / 9:01 AM
The-CNN-Wire ™ © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
©2023 CBS Broadcasting Inc. All Rights Reserved.

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