On October 6, Overstock will celebrate its 20th anniversary with what it said will be the biggest event in company history, Customer Day. The 36-hour sale will run through October 7 and will give customers access to Overstock’s deepest discounts, free shipping, double rewards and limited time Flash Deals.
Overstock said it is enhancing its customer focus by launching a completely dynamic and real-time e-mail experience. The personalized customer experience leverages Overstock’s proprietary technology built to create a real-time streaming platform.
Overstock continues restructuring its retail business as it posted a first quarter loss and named Dave Nielsen president of retail.
Overstock.com pursued more robust marketing initiatives in the third quarter ended September 30 and, partially because of those efforts, posted a net loss of $47.9 million, or $1.55 per diluted share, versus $786,000, or three cents per diluted share, in the year-earlier period.
Overstock.com has added three new executives to its retail leadership team. Catherine Borda was appointed to the newly created position of chief customer officer, Chris Donnelly appointed chief of staff to the president, and former Overstock co-president Dave Nielsen appointed chief sourcing and operations officer.
Overstock.com has launched an integrated lease-to-own purchase option through Progressive Leasing.
Patrick Byrne, Overstock.com founder and CEO, is selling about 10% of his stock in the company to fund several investments, he revealed in a letter to shareholders.
Overstock.com said it will begin expanding its physical and digital operations, including supply chain, marketing, and recruiting, into states in which tax nexus concerns previously prevented the company from having an on-the-ground presence.