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Overstock.com, Inc. (NASDAQ:OSTK ) Q2 2023 Earnings Call Transcript July 27, 2023 8:30 AM ET Company Participants Lavesh Hemnani - Head of Investor Relations Jonathan Johnson - Chief Executive Officer Adrianne Lee - Chief Financial Officer Dave Nielsen - President Conference Call Participants Seth Sigmund - Barclays Thomas Forte - D. A. Davidson Curtis Nagle - BOFA Anna Andreeva - Needham and Company Operator Good day and thank you for standing by.
Overstock.com (OSTK) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to earnings of $0.19 per share a year ago.
Overstock (OSTK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SALT LAKE CITY, July 13, 2023 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK), a leading online furniture and home furnishings retailer, is scheduled to release second quarter financial results for the period ended June 30, 2023, on Thursday, July 27, 2023, before the market opens. The company has scheduled a conference call and webcast for 8:30am ET that day to discuss these results and take questions from participants during the live event. Questions may also be submitted to ir@overstock.com in advance.
Stronger than expected economic data, including Thursday's sharp jump in private payrolls, sent stocks retreating from their July 3rd highs. Comments from Fed speakers around tightening monetary policy contributed to a three-day slide in the S&P 500 amid renewed worries of further interest rate hikes.
What do online home furnisher Overstock.com, Inc. NASDAQ: OSTK and clothing retailer Burlington Stores have in common? Both are turning to the bankrupt Bed Bath & Beyond to generate inexpensive growth.
Buying the retailer's name is a shrewd move but doesn't justify the run-up in Overstock's share price.
Overstock.com is turning the headwinds created by its liquidator name into tailwinds under its newly acquired Bed Bath & Beyond brand name with its IP assets.
Overstock.com acquired Bed Bath & Beyond's brand and digital assets for $21.5 million. The e-commerce company then announced it would adopt the iconic brand for its entire identity.
Overstock.com is acquiring certain brand assets from Bed Bath & Beyond for $21.5 million in cash. Management sees the transaction as transformative for the business.