Beyond, Inc. Stock Price, News & Analysis

Beyond, Inc. (NYSE:BYON) has completed the sale of its corporate headquarters in Midvale, Utah to Salt Lake County on December 20, 2024. The transaction includes a leaseback arrangement for a 5,000 square foot data center. The company will maintain its presence in Salt Lake City by leasing new office space that better suits its current business needs.

The sale aligns with Beyond's strategic plan to reduce debt and fixed costs, with the company achieving nearly 90% of its targeted $65 million annualized fixed cost reduction. The proceeds will be used to fully pay off associated mortgage obligations, with the remaining funds allocated to operations.

Beyond Inc. (NYSE:BYON) has provided an update regarding its pending transaction with The Container Store. The company expressed concerns about The Container Store's ability to secure financing that meets the requirements outlined in their October 15, 2024 Purchase Agreement. Marcus Lemonis, Beyond's Executive Chairman, stated that while they believe in The Container Store's brand fundamentals, the proposed financing terms don't meet their expectations. If commercially acceptable financing isn't secured by January 31, 2025, either party may terminate the agreement.

Beyond Inc. (NYSE:BYON) reported Q3 2024 financial results showing mixed performance. Total net revenue decreased 16.6% year-over-year to $311 million, with a net loss of $61 million. The company delivered 1.6 million orders, down 19% YoY, while active customers increased 21% to 6.0 million. Gross profit reached $66 million (21.2% of revenue). The company announced a $20 million annualized reduction in staff expenses and expects total fixed expense reduction of $65 million by 2025. Beyond is transforming into an affinity and data monetization model, establishing partnerships with The Container Store and Kirkland's Home.

Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond, Overstock, Zulily, and other online retail brands, has updated the timing for its third quarter 2024 financial results release. The company will now release the results on Thursday, October 24, 2024, before the market opens. Beyond has canceled the previously announced conference call and webcast scheduled for October 25, 2024. Instead, the company will address questions during an investor event on October 24, 2024, from 11:00am to 2:00pm ET. Investors can submit questions in advance to ir@beyond.com. The event will be accessible via live webcast at investors.beyond.com, with a replay available after the event concludes.

Kirkland's Home and Beyond have announced a strategic partnership to revitalize the Bed Bath & Beyond brand through a neighborhood store strategy. Key points include:

• Kirkland's to become Beyond's exclusive brick-and-mortar operator for new, smaller format Bed Bath & Beyond locations
• Expansion of Kirkland's product assortment across the expanded store network and Beyond's websites
• Leveraging enhanced supply chain network and digital transformation
• Beyond to invest $25 million via combined debt and equity transaction

The partnership aims to drive sustainable profitable growth by leveraging the strengths of both companies. Kirkland's CEO Amy Sullivan and Beyond's Executive Chairman Marcus Lemonis expressed enthusiasm for the collaboration, emphasizing the potential for growth and value creation for all stakeholders.

The Container Store Group, Inc. (NYSE: TCS) and Beyond, Inc. (NYSE:BYON) have announced a strategic partnership leveraging the Bed Bath & Beyond brand and The Container Store. Beyond will invest $40 million in The Container Store through a preferred equity transaction. Key aspects of the partnership include:

1. Launching co-branded spaces showcasing Bed Bath & Beyond assortment
2. Offering Beyond's loyalty program and payment solutions through The Container Store
3. Integrating The Container Store's Custom Spaces offering across Beyond's e-commerce platforms
4. Joining Beyond's data platform for enhanced customer analytics
5. Expanding and renewing e-commerce strategies

The partnership aims to improve customer experience, drive traffic, and position The Container Store for profitable growth. The preferred stock investment is subject to certain conditions and shareholder approval.

Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond, Overstock, Zulily, and other online retail brands, has announced two upcoming events:

1. An investor event on Thursday, October 24, 2024, from 11:00am to 2:00pm ET in New York City, also accessible via live webcast. The leadership team will present the company's strategic vision, business updates, and key initiatives.

2. The release of third quarter 2024 financial results on Thursday, October 24, 2024, after market close, followed by a conference call and webcast on Friday, October 25, 2024, at 8:30am ET to discuss the results and take questions.

Both events will be accessible via webcast at investors.beyond.com, with replays available two hours after each live event ends. Questions can be submitted in advance to ir@beyond.com.

Beyond, Inc. (NYSE:BYON) has launched a global licensing program for the Bed Bath & Beyond brand. The program includes:

• Product licensing agreements for Bed Bath & Beyond branded textile goods
• Licensing agreement for Bed Bath & Beyond stores in Mexico
• Negotiations for stores in other global markets

The company granted a category license to PEM America for home textiles. The brand will cover four core pillars: bedroom, bathroom, kitchen, and patio. Beyond purchased Bed Bath & Beyond's intellectual property assets for $21.5 million in June 2023 and recently sold the Wamsutta brand for $10.25 million. The company aims to monetize its intellectual property and assets through partnerships with manufacturers and retailers.

Beyond, Inc. (NYSE:BYON), owner of Overstock, Bed Bath & Beyond, Zulily, and other online retail brands, has announced its participation in upcoming investor events. The company will attend the Goldman Sachs 31st Annual Global Retailing Conference in New York City on September 4, 2024, and the Piper Sandler Growth Frontiers Conference in Nashville on September 10, 2024.

At the Piper Sandler conference, Beyond will participate in a fireside chat at 3:00 p.m. ET, which can be accessed via investors.beyond.com. Based in Midvale, Utah, Beyond focuses on connecting consumers with products and services that unlock their families' and homes' potential. The company's suite of online shopping brands offers millions of products for various life stages, attracting millions of customers each month.