Overstock announced that it will officially change its name to Beyond on November 6

It is learned that on October 24, Overstock announced that it would change its company name to Beyond starting November 6. In April this year, Bed Bath & Beyond, one of the largest home furnishing retailers in the United States, filed for bankruptcy and liquidated. On June 28, Overstock spent $21.5 million to acquire its brand assets.

After completing the acquisition, Overstock changed its website domain name in the United States and Canada to BedBath&Beyond this summer, and launched a new mobile shopping app in the United States on August 1.

In addition to changing its company name, Overstock will also move its stock listing from Nasdaq to the New York Stock Exchange and change its ticker symbol from OSTK to BYON. Overstock will continue to trade on Nasdaq under the ticker symbol OSTK until the close of trading on November 3, and Beyond will begin trading on the New York Stock Exchange at the open of trading on November 6 under the new ticker symbol BYON.

According to Overstock's third-quarter earnings update, the BedBath&Beyond website has achieved significant results since its launch in the United States and Canada. The report mentioned that compared with the same period last year, the number of platform orders increased by a mid-single-digit percentage, the number of active customers experienced a mid-single-digit net increase, and new customer orders increased significantly.

Jonathan Johnson, CEO of the new Bed Bath & Beyond, revealed that after the domain name was changed to Bed Bath & Beyond, the website's traffic and conversion rate increased. Nearly 1.3 million new SKUs were added to the refurbished website, and new customer orders also increased significantly.

In addition, Overstock's loyalty program ClubO has been renamed Welcome Rewards, which was originally the name of Bed Bath & Beyond's loyalty program.

Not only that, after launching the shopping app in the United States, Overstock's sales through the mobile app exceeded other platforms, historical customer engagement also increased, and the proportion of orders from Welcome Rewards members increased by 500 basis points.

By changing its brand name to Bed Bath & Beyond, Overstock hopes to reshape its brand image and get rid of the outside world's impression of "clearing inventory" and "low prices", thereby achieving market share growth.

Editor✎ Ashley/

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