Beyond Announces Sale of Majority stake in Zulily Brand
Rhea-AI Summary
Beyond Inc. (NYSE:BYON) has announced the sale of 75% of its Zulily brand to Lyons Trading Company, operator of Proozy.com, in a deal valuing Zulily at approximately $6.7 million. Beyond will receive $5 million while retaining a 25% stake in the brand.
The strategic move aligns with Beyond's focus on improving performance of its core brands: Bed Bath & Beyond, buybuy BABY, and Overstock.com. The company reports progress in these areas through margin improvement, enhanced site experience, vendor consolidation, and fixed expense optimization.
The company expects the transaction's impact on adjusted earnings per share to be immaterial on a full-year basis.
Positive
- Strategic divestment generates $5 million in immediate cash
- Retains 25% ownership stake in Zulily for potential future upside
- Allows focus on core brands' path to profitability
- Reports progress in margin improvement and cost optimization
Negative
- Sale values Zulily at only $6.7 million, suggesting potential write-down
- Indicates strategic retreat from previous expansion efforts
News Market Reaction – BYON
On the day this news was published, BYON declined 10.25%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Sale of
MURRAY, Utah, March 18, 2025 (GLOBE NEWSWIRE) -- Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond, buybuy BABY and Overstock announced today that it has entered into a definitive agreement to sell its Zulily brand to Lyons Trading Company, the operator of leading online off-price retailer Proozy.com. Beyond will receive
“We have made significant progress in improving the performance of Bed Bath & Beyond and Overstock.com through sequential margin improvement, improved site experience, vendor consolidation and right-sizing our fixed expenses. With the recent acquisition of buybuy Baby, we want our team laser focused on our core brands as we march towards profitability,” said Adrianne Lee, Beyond’s President and CFO.
“This sale reflects our commitment to resource optimization, our mandate to delivering profits for our home and family-centric brands, and a focus on our largest growth opportunities as a Company,” said Alex Thomas, COO of Beyond.
The Company expects the impact of the sale to be immaterial to its adjusted earnings per share on a full-year basis.
About Beyond
Beyond, Inc. (NYSE:BYON), based in Murray, Utah, is an ecommerce focused affinity company that owns or has ownership interests in various retail brands, offering a comprehensive array of products and services that enable its customers to unlock their homes’ potential through its vast data cooperative. The Company currently owns Bed Bath & Beyond, Overstock, buybuy Baby, and other related brands and websites. The Company regularly posts information and updates on its Newsroom and Investor Relations pages on its website, Beyond.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding future business results, opportunities, strategies, and any consequences associated with the sale of Zulily. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 25, 2025, and in our subsequent filings with the SEC.
| Contact Information Investor Relations ir@beyond.com pr@beyond.com |
FAQ
How much is Beyond (BYON) selling Zulily for in March 2025?
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