Overstock Acquires Bed Bath & Beyond Brand and Other Intellectual Property

• Acquired iconic brand with high consumer awareness, vast customer database, and website domains among other intellectual property
  
• Combining Overstock’s asset-light business model with the well-known Bed Bath & Beyond brand
• Transitioning to single Bed Bath & Beyond domain for quality home products
• Re-branding Overstock Club O loyalty program as Welcome Rewards

SALT LAKE CITY, June 28, 2023 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ: OSTK), a leading online furniture and home furnishings retailer, today announced the consummation of its acquisition of certain intellectual property assets of the Bed Bath & Beyond banner from Bed Bath & Beyond, Inc. under a Bankruptcy Court supervised process. Overstock is hosting a conference call tomorrow, June 29, 2023 at 8.30 a.m. ET, to discuss the transaction.

“This acquisition is a significant and transformative step for us,” said Overstock CEO, Jonathan Johnson. “Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace. The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the Company for accelerated market share growth.”

Overstock is a leading on-line retailer of indoor and outdoor furniture, home décor, and area rugs, among other home furnishings products. Customers of Bed Bath & Beyond will be able to access the vast and growing assortment Overstock offers, along with the kitchen, bedding, and bath-related products for which Bed Bath & Beyond has been a destination for over 30 years.

Brand Integration
Within the next week, Overstock plans to re-launch the Bed Bath & Beyond domain in Canada, followed weeks later by the re-launch of a refreshed website, mobile app, and loyalty program in the United States. New and existing customers of both Overstock and Bed Bath & Beyond will experience a single online shopping destination -- bedbathandbeyond.ca in Canada and bedbathandbeyond.com in the U.S. -- for millions of quality furniture and home furnishings products available at affordable price points for every budget.