Welcome to our dedicated page for OSTK news (Ticker: OSTK), a resource for investors and traders seeking the latest updates and insights on OSTK stock.
Overstock.com, Inc. (NASDAQ: OSTK), now operating as the revitalized Bed Bath & Beyond, serves as a leading ecommerce destination for home furnishings and decor. This news hub provides investors and industry observers with official updates on the company's strategic transformation following its acquisition of the Bed Bath & Beyond brand.
Key resources include earnings announcements, operational updates, and details about technological initiatives like the enhanced gift registry platform. Track progress on market expansion efforts including the successful U.S. and Canadian website launches, along with financial restructuring plans aimed at long-term growth.
Discover updates about product assortment expansions, partnership developments, and leadership insights directly from corporate communications. All content is sourced from official channels to ensure accuracy and timeliness for stakeholders monitoring this evolving retail story.
Bookmark this page for streamlined access to Overstock's latest developments as it continues executing its vision under the Bed Bath & Beyond brand. Check regularly for updates on ecommerce innovations, customer growth metrics, and strategic initiatives shaping the company's future in online home retail.
tZERO announced Alan Konevsky's appointment as Executive Vice President and Chief Legal and Corporate Affairs Officer effective March 2022. His role follows the minority investment by Intercontinental Exchange (NYSE: ICE) and the appointment of David Goone as CEO. Konevsky previously served as Interim CEO and Chief Legal Officer. In his new position, he will focus on strategic matters and support growth initiatives under Goone, aiming to enhance tZERO's digital market offerings, including cryptocurrencies and NFTs.
On February 22, 2022, tZERO, a leader in blockchain technology, announced the successful launch of its clearing and settlement support for securities transactions through its broker-dealer subsidiary, tZERO ATS. This advancement allows faster onboarding of private securities and enhances transaction settlement times. The model supports both private digital securities and NMS securities. tZERO aims to innovate the trading infrastructure for digital assets, improving operational efficiency and creating value for stakeholders. Interim CEO Alan Konevsky emphasizes increased liquidity in private capital markets.
Overstock.com reported fourth quarter 2021 net revenue of $613 million, a 9% decline year over year, with a gross profit of $139 million or 22.7% of total revenue. For the full year, net revenue rose 11% to $2.8 billion, and the diluted EPS was $3.57. Despite challenges in the fourth quarter, the company achieved its profitability targets, driven by strong holiday sales, particularly during the Cyber Five period. Active customers decreased by 12%, but the net revenue per active customer grew 26%.
Intercontinental Exchange (NYSE:ICE) announced a strategic investment in tZERO, appointing David Goone as its new CEO. Goone, a long-serving member of ICE management, will lead tZERO in advancing blockchain innovation and liquidity for digital assets. ICE's investment terms remain undisclosed, but the transaction will not affect its capital return plans. tZERO aims to democratize access to capital markets with its SEC-regulated trading system. Other investors in this round include Overstock.com (NASDAQ:OSTK).
Overstock.com (NASDAQ:OSTK) is set to release its fourth-quarter and full-year financial results for the period ending December 31, 2021, on February 23, 2022, before the market opens. A conference call is scheduled for 8:30 AM ET on the same day, allowing participants to discuss results and ask questions. Investors can access the live webcast through Overstock's investor relations website. Following the call, a replay will be available on the site and via telephone until March 2, 2022. Overstock continues to be a prominent online retailer, known for accepting cryptocurrency as payment.
tZERO announced the commencement of secondary trading for the Curzio Equity Owners digital security on its tZERO ATS. The digital security represents preferred equity in Curzio Research, a rising name in the independent financial newsletter sector. Investors with accounts at tZERO Markets can now trade these securities, enhancing liquidity for retail and international investors alike. The trading of Curzio Equity Owners had previously been on a Seychelles-based exchange before moving to tZERO on February 7, 2022.
Overstock.com (NASDAQ:OSTK) has announced a donation of dining room furniture and home decor to help Afghan refugee families resettling in Utah. This initiative aims to assist an estimated 180 families arriving since October 1, 2021. Overstock is providing 185 kitchen tables, 825 chairs, and 185 home decor items, working collaboratively with the International Rescue Committee and Catholic Community Services. CEO Jonathan Johnson emphasized the importance of family gatherings and support for these families starting anew in the U.S.
Overstock.com (NASDAQ:OSTK) announced participation in the Credit Suisse 25th Annual Technology Conference from November 29 to December 2, 2021. CEO Jonathan Johnson and CFO Adrianne Lee will engage in investor meetings. Johnson highlighted the company’s profitable market share growth in Q3 2021 due to significant operational changes over the past year and a half. The conference is a key event in the technology investment sector and takes place in Scottsdale, Arizona. Overstock continues to accept cryptocurrency payments, enhancing its position in e-commerce.
Overstock.com has announced a regular annual cash dividend of $0.16 per share for 2021, payable on December 16, 2021, to shareholders of Series A-1 and Series B Preferred Stock. The record date for this dividend is November 30, 2021, with an ex-dividend date expected on November 29, 2021. This marks the fifth consecutive year of dividend payments, showcasing Overstock's commitment to shareholder value and a strong balance sheet.
Overstock.com reported third quarter 2021 net revenue of $689 million, a 4% decline year over year, with year-to-date revenue surpassing $2 billion. Gross profit stood at $157 million (22.7% of total revenue), and the company achieved diluted earnings per share of $0.63. Active customers reached 8.7 million (+5% YoY), while average order value increased by 24% to $214. Despite a 22% drop in orders delivered, CEO Jonathan Johnson emphasized successful navigation of supply chain challenges and strong online market penetration.
