Nearly a year after changing its name to Bed Bath & Beyond, the company formerly known as Overstock.com is reconsidering its decision.
The company has officially relaunched the Overstock.com brand as a standalone site, giving it expanded inventory and a fresh new look. Bed Bath & Beyond’s digital storefront will continue to exist, with a greater focus on the kitchen, bedroom and bath categories. (Overstock purchased the Bed Bath & Beyond brand for $21.5 million in June 2023.)
The move had been long anticipated. On an earnings call in February, Beyond CEO Marcus Lemonis said the closure of Overstock.com was a “huge mistake.” Plans to bring Overstock.com back were announced, with a soft launch in March.
The new Overstock will be largely similar to the old company, focusing on indoor and outdoor furniture, rugs, decor, and lighting, but the company plans to expand its offerings to include everything from clothing 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 name change was officially announced, amid pressure from activist hedge funds.
“We are optimistic that at its full maturity, Bath has the potential to become a billion-dollar brand, with positive contribution and higher visitation frequency,” Lemonis said on an earnings call in May.
Beyond/Overstock’s sales peaked in 2021, when they hit $2.76 billion. Last year, that total fell to $1.56 billion, due to a combination of weak website performance and weak consumer demand. Still, the company said in May that the soft launch of Overstock.com revenue exceeded expectations. That gives it hope that its dual approach to online retail can help it regain momentum in the coming months.
