Overstock is now Bed Bath & Beyond: Suppliers started 'opening their catalogues' to us, says CEO
08/01/2023 23:25
Overstock.com (OSTK) is now Bed Bath & Beyond, at least in the U.S. and Canada. Bed Bath & Beyond CEO Jonathan Johnson joined Yahoo Finance Live to discuss the relaunch of the brand. Overstock did a trial run of the rebranding in Canada first, of which Johnson said "we saw better direct traffic. We saw better conversion. All signs were good." Johnson said some suppliers reached out to the company after the name change and that, since the deal was first announced, they have added more than 6,000 new products in the bed, bath, and kitchen area, giving the customers a "deeper and broader offering." When it comes to the impact on the business, Johnson says though there will be a big marketing push on the rebrand, long-term, he expects it to be "great for both the top and bottom line of our business." As far as changing the corporate name from Overstock to Bed Bath & Beyond, Johnson says it's "in the works" and that he would like to have it happen "sooner rather than later." Finally, for those who are missing their Bed Bath & Beyond coupons, Johnson advises people to download their app, saying it will "feel very familiar" to customers.
Overstock.com (OSTK) is now Bed Bath & Beyond, at least in the U.S. and Canada. Bed Bath & Beyond CEO Jonathan Johnson joined Yahoo Finance Live to discuss the relaunch of the brand. Overstock did a trial run of the rebranding in Canada first, of which Johnson said "we saw better direct traffic. We saw better conversion. All signs were good." Johnson said some suppliers reached out to the company after the name change and that, since the deal was first announced, they have added more than 6,000 new products in the bed, bath, and kitchen area, giving the customers a "deeper and broader offering."
When it comes to the impact on the business, Johnson says though there will be a big marketing push on the rebrand, long-term, he expects it to be "great for both the top and bottom line of our business." As far as changing the corporate name from Overstock to Bed Bath & Beyond, Johnson says it's "in the works" and that he would like to have it happen "sooner rather than later."
Finally, for those who are missing their Bed Bath & Beyond coupons, Johnson advises people to download their app, saying it will "feel very familiar" to customers.