The online retailer Overstock has successfully re-launched the Bed Bath & Beyond (OTCMKTS:BBBYQ) domain in the U.S., following its acquisition of the bankrupt retail chain’s intellectual property assets for $21.5 million last month. As part of the strategic move, Overstock.com decided to change its name to Bed & Bath & Beyond, a transition that was already implemented in Canada on June 29.
Overstock.com’s CEO, Jonathan Johnson, confirmed that the Canadian relaunch proceeded smoothly without any issues. Since publicly announcing its bid for the retailer, the company has expanded its inventory by approximately 600,000 bed and bath items to enhance the online shopping experience for customers.
While the Canadian transformation has been successful, the company is yet to decide on a corporate name moving forward. Johnson highlighted that the name change was necessary to avoid confusion among some customers and suppliers who previously perceived Overstock as a liquidator—a reputation the company obtained when it started in 1999. In 2004, Overstock transitioned into a general merchandise retailer, offering a wide range of products, and in 2021, it further refined its strategy, focusing primarily on furniture and home decor while phasing out items like clothing. The recent acquisition of Bed Bath & Beyond’s assets opens up new opportunities for the company to expand its presence in the online retail market.
Featured Image: Megapixl
Author Faith Yakubu 
