MIDVALE, Utah – Beyond Inc., parent of “the new Bed Bath & Beyond,” plans to come full circle with a new site launch in the works.

By the end of 2024, the company will relaunch Overstock.com as a platform hewing to the brand’s original model: offering a cross-category assortment of liquidation merchandise.

This marks a relatively swift pivot. Overstock spent most of 2022 exiting non-home categories to establish itself as a home-only site offering value-priced furniture and home goods. Its acquisition of Bed Bath & Beyond’s intellectual property this past June and subsequent rebranding under that banner in August further expanded its total home proposition by amplifying soft goods and housewares.

The look of the new Overstock.com site will likely mirror the legacy site, but it will be crafted in a way that differentiates it from the current Bed Bath & Beyond platform, according to company CEO Jonathan Johnson.

“I don’t’ think that modeling it as a furniture or a home furnishings site is the thing to do,” he told investors during this morning’s call to review Q3 financial results.

There will be no merchandise overlap between the new Overstock.com and the current Bed Bath & Beyond platform. Products will be offered at “true liquidation prices,” he added.

Johnson also hinted that in the longer run, Beyond Inc. may field additional pure play platforms. He offered no details but noted that the company is “opportunistically and patiently looking at other targets to grow our ‘Beyond’ vision.”

See also:

• Overstock steps Beyond its past in corporate rebrand
• Overstock board brings on celebrity “turnaround king” to assist with Bed Bath reinvention

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MIDVALE, Utah – Overstock is shaking off another vestige of its legacy operation with a new corporate identity and stock listing. The e-commerce home furnishings specialist – which acquired Bed Bath & Beyond Inc.’s intellectual property on June 28 – will rebrand as Beyond Inc. effective Nov. 6.

Overstock.com Inc. will continue to trade on the NASDAQ with ticker symbol OSTK until the close of market on Friday, Nov. 3. Beyond Inc. will begin trading on the New York Stock Exchange with ticker symbol BYON when markets open on Monday, Nov. 6. On that day, to celebrate the transfer, representatives of Beyond Inc. will ring the NYSE opening bell at 9:30 a.m. ET.

“Changing our corporate name to Beyond Inc. sets us up well for a brighter future,” said Jonathan Johnson, CEO. “The name ‘Beyond’ emphasizes our commitment to connect new and legacy customers with a wide assortment of products and services.”

Overstock relaunched its U.S. site on Aug. 1 under the Bed Bath & Beyond banner. The legacy Bed Bath e-commerce operation in Canada relaunched as  bedbathandbeyond.ca on June 29.

Despite an early surge of activity to the site following the rebrand, year-over-year revenue was showing a decline in the mid-teens for the period from July 1 through Sept. 4. The full quarter closed out on Sept. 30.

Overstock is scheduled to release its full third-quarter fiscal results tomorrow, Oct. 26, before the markets open and will webcast its conference call with investors at 8:30 a.m. ET.

See also:

• Overstock overhaul? Hedge fund pushing for action
• The “new Bed Bath & Beyond” gets a lift from core BBB categories. However…

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SALT LAKE CITY – The rebrand of e-commerce home furnishings specialist Overstock to Bed Bath & Beyond six weeks ago is moving the needle, just not quite enough yet to push it into positive sales territory.

The company – which completed the acquisition of the Bed Bath & Beyond brand and its intellectual property on June 28 – shared a preview of its third quarter performance through Sept. 4. The new quarter began on July 1, so the data covers one month (July) when the platform was still branded as Overstock. It also includes sales from the much smaller bedbathandbeyond.ca platform in Canada, which relaunched on June 29.

Bed Bath & Beyond/Overstock has bulked up on SKUs to pull in former BBB customers, but so far revenue is still lagging. Third quarter revenue declined in the mid-teens on a year-over-year basis. That includes a low-double-digit percent decline year-over-year since the U.S. launch.

Average order value is also down. For the quarter, average order value declined in the high-teens percent year-over-year. That includes a low-20s percent decline year-over-year since the U.S. launch.

Still, company CEO Jonathan Johnson said he remains optimistic about the future and the opportunity to gain market share under the Bed Bath & Beyond brand.

“Even in a challenging macro-economic environment, we acquired new customers and re-activated past customers. Our topline performance is improving steadily,” he said.

Key third quarter highlights:

• Over the Labor Day weekend, the first major holiday event under the re-brand, the legacy BBB categories of bedding, bath and kitchen recorded strong growth year-over-year in aggregate, for the comparable period.
• The company has added nearly 1.3 million new SKUs since early June as it built out key BBB category assortments.
• The e-commerce site saw a mid-single-digit percent net increase in active customers since the  launch.
• Total active customers for the 12 months ended Sept. 4 came in at more than 4.8 million.
• The pace of orders has also improved. The new BBB has generated a mid-single-digit percent growth year-over-year. That includes a high-teens percent growth year-over-year since the U.S. launch.
• Gross profit as percent of revenue came in at approximately 18%. Sales & marketing expense as percent of revenue was approximately 15%

“Visits to our website have increased and conversion has improved,” said Johnson. “Our promotional offers and expanded product assortment are resonating with customers, and they love the refreshed mobile app.”

The company will provide full results when it reports Q3 earnings this fall, most likely in late October or early November.

See also:

• Overstock weathers another tough quarter as it preps for BBB relaunch
• Overstock CEO weighs in on company transition into Bed Bath & Beyond

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HIGH POINT – The Trisha Yearwood Home Collection, previously with Klaussner Furniture, has found a new home with Legacy Classic|Modern Furniture. 

Legacy will be showing existing best sellers within the Trisha Yearwood Home Collection at the upcoming October High Point Market, including collections that debuted at the previous spring market.

“I am excited to see the Trisha Yearwood Home Collection continue with Chris Pelcher and the team at Legacy Classic|Modern Furniture,” Yearwood said. “My highest priority is to continue serving the retailers who have put their trust in the Trisha Yearwood brand. We share the commitment of providing affordable quality home furnishings to our customers, and I can’t wait to see what the future brings.” 

According to the company, the first order of business is connecting with the line’s retail partners, many of whom are current Legacy customers. “We don’t want Trisha’s retail partners to miss a beat, particularly as we head into the busiest time of year. Our goal is to make this as seamless as possible,” said Pelcher, president of Legacy 

Legacy is in the process of securing the inventory for all current and future open orders. Plans for new Trisha Yearwood Home Collection introductions are in the works, with a goal to premier those offerings in April 2024.

“Being able to work with Trisha Yearwood, her team, and one of the longest-running collections in our industry is a true honor,” Pelcher said. “In my opinion, one of the reasons Trisha’s collection has stood the test of time is because of her legendary level of involvement with her product and her participation in the markets. She has been the key factor in the momentum of the brand for close to 10 years.”  

The licensed collection had previously been under a partnership with Klaussner Home Furnishings until the company abruptly shut down earlier this month, putting 884 employees out of work. Yearwood vowed last week that the collection would continue and her team was in negotiations to find a new home for the line.

This is not the first time Legacy inked a licensing agreement. The company currently has licensing agreements with Rachael Ray and Paula Deen, also celebrity chefs, and earlier this year, the company announced plans to move into the motion upholstery category.

 See also:

• These companies step up to serve UFI/Lane/Klaussner buyers in a turbulent year
• Everything there is to know (so far) about Klaussner’s shutdown this week

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HIGH POINT/ATLANTA/LAS VEGAS — International Market Centers announced today that the company is unifying its physical marketplace business and its Juniper offerings in a rebranding as Andmore, an omnichannel wholesale marketmaker.

The rebranding follows a year-long initiative to redefine the company’s vision, align all channels under a single brand experience, and offer more ways to seamlessly connect wholesale buyers and sellers through physical and digital platforms.

“Today marks an important milestone as we embark on a new era for our company,” said Bob Maricich, Andmore CEO. “Andmore captures our spirit of innovation and focus on doing MORE to support our customers by enhancing and extending the value of our physical markets for both buyers and sellers across the furniture, home décor, gift and apparel industries.”

In addition to the new name and branding, Andmore plans to introduce features and enhancements to its upcoming markets and digital offerings.

“It is critical to maniacally focus on buyer pain points,” said Maricich in a press conference about the rebranding. “Buyers told us their biggest pain point was discovery. We’re going to focus on making discovery easier.”

The first product introduction under the Andmore name is a new buyer mobile app, which launches today in preparation for the summer markets in Atlanta and Las Vegas. The @Market app does everything the previous market app could do and more, according to Dorothy Belshaw, executive vice president and chief growth officer. Features include pre-market planning tools, a personal QR code for quick badge pick-up, the ability to capture and organize images with notes, turn-by-turn directions to help buyers make the most of their time at market, and a comprehensive, post-market recap for easy follow-up and ordering.

“This is a business transformation that further enhances our mission,” said Maricich, adding, “We have to help our tenants get in front of as many buyers as they can. That’s why they pay us rent.”

Belshaw added during the presentation that Andmore is all about helping buyers find exhibitors, creating connection and continually providing dynamic market experiences.

The rebranding is effective immediately and can be seen in a new website, new signage, new email addresses and in the new @Market app.

See also: IMC Trade Shows Recognized Among Nation’s Fastest Growing

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ATLANTA — Havertys is counting on some furniture-related humor to get people thinking about buying dad something new for Father’s Day.

The national paid social media ad campaign for the Top 100 furniture retailer, which runs through June 18, is featuring a series of dad jokes using furniture-related puns. A sampling includes:

• What do taller people do in bed? Sleep longer.
• Someone stole my sofa … Thankfully it was recovered.
• What did the table say to the chair? Dinner is on me tonight.

The campaign with the tagline “We Furnish Happiness” was created by Havertys’ agency of record since 2020, EP+Co, and its creative team.

In contrast to ads that focus on price and promotion, the dad joke campaign is being presented as an opportunity for the brand to tap into the holiday and promote furniture in a way that is unexpected but designed to make consumers smile.

Havertys operates 123 showrooms in 16 states in the South and Midwest.

See also:

• ‘This is the way.’ Here’s how the industry celebrated Star Wars Day on social media
• Who says furniture can’t be fun on social media? Ruby-Gordon’s Instagram disagrees

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WALNUT CREEK, Calif. — Online furnishings retailer Lumens has expanded its product portfolio with the addition of B&B Italia, a luxury Italian furniture brand.

Lumens, a purveyor of lighting, furniture and décor serving consumers and trade professionals, is B&B Italia’s first e-commerce partner, bringing the brand into new segments within the North American market.

“B&B Italia is unparalleled in the design space for excellence in quality, craftsmanship and cultural significance,” said Kecia Hielscher, senior vice president-merchandising at Lumens. “We are thrilled to bring this quintessential luxury brand to the discerning customers who trust Lumens to source the best in design from around the world.”

Notable products by B&B Italia at Lumens include designs from its Serie UP and La Bambole collections and Camaleonda by Mario Bellini, a 1970s design that was reissued in 2020 featuring original design elements but with a modern makeover.

See also:

• DTC retailer Lulu and Georgia taps digital marketer to achieve post-pandemic boost
• DTC company Sabai enters new product category

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COLUMBUS, Ohio – Even though it has stopped accepting Bed Bath & Beyond’s legacy 20% coupons, Big Lots still sees opportunities to capture more of the liquidating retailer’s former customers.

Big Lot’s recent campaign to honor BBB coupons, which ended May 8, was “a great success,” according to CEO Bruce Thorn.

In addition to generating 90 million television and radio impressions, the move resulted in good redemption rates at Big Lots stores, which allowed the retailer to sign up more loyalty customers. In order to have their BBB coupons honored, shoppers had to visit a Big Lots store in person and enroll in the retailer’s free “Big Rewards” program.

During the recent first quarter investor call, Thorn noted that Big Lots stores near closing Bed Bath stores are well-positioned to pick up more business.

“We think there’s a big opportunity for us to bring in some of the dislocated customers from the Bed Bath & Beyond bankruptcy. We’ve got a good store footprint overlap with their stores within 10 miles,” he said.

Although Big Lots’ Q1 sales in home took a hit, the company expects improvement as its furniture business rebuilds with a new vendor base.

And as Bed Bath & Beyond finalizes its going-out-of-business sales, “we expect to get an influx of more customers. And we’ll focus on it as well as other companies that unfortunately have gone out of business,” said Thorn.

See also:

• Ripples from Lane closure still felt in Big Lots’ Q1 numbers
• Big Lots takes an axe to unproductive SKUs after soft home sales tumble

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WINNIPEG, Manitoba — Canadian manufacturer and retailer EQ3‘s new spring/summer 2023 campaign, Always Here, is all about the company’s heritage story, highlighting the company’s makers — designers, sewers and upholsterers — as a nod to the many hands that bring their collections to life.

With the launch of the campaign, EQ3 founder and CEO Peter Tielmann said, “As a design house of passionate authors, we are committed to creating solutions that combine innovative processes with the teachings of our past. We create classics that last a lifetime and are made with a mindful and conscious approach.

“Longevity is at our core; it is the continuous thread weaving through each collection,” he added. “Because our planet doesn’t need just another sofa, but rather one you can invite home and cherish for decades to come, standing in the place of many others not consumed.”

EQ3 believes that customers are seeking enduring designs that prioritize value and longevity from trusted brands. In business for more than 75 years, it offers artisanal crafted upholstery.

See also:

• Form follows function? EQ3 puts the power of modular sofas in consumers’ hands
• EQ3 launches new ReHome program

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STAMFORD, Conn. — Lovesac is introducing a new product that will change up its Sactionals offerings with a modern take on design.

With its 25th anniversary campaign underway, Lovesac is focusing on how the brand has been “Rewriting the Rules of Comfort” as part of its messaging. As part of this, the company is introducing its latest Sactional style, the Angled Side.

“Our brand ethos is to showcase how Lovesac products are not only built to last a lifetime, but also grow and evolve with our customers,” said Shawn Nelson, founder and CEO. “The introduction of Angled Sides is just one of the new products we’re bringing to market that will enable consumers to style and adapt their Lovesac Sactionals platform in ways they never could before. With its thoughtfully designed angles and clean edges, this design combines Total Comfort, flexibility and style, so Lovesac owners can have it all.”

Designed with style and versatility in mind, the Angled Side brings a new, modern look to the Sactionals platform that offers more choices to customers. Operating as both an arm and back of the couch, the Angled Side adds four new style combinations to the Sactionals configurations, which includes the Angled Side and Standard Back, Standard Side and Angled Back, Roll Side and Angled Back, and Angled Side and Angled Back.

“Lovesac products are meant to be washed, changed, rearranged, repaired and upgraded – designed to evolve with you and last forever,” said Nelson. “Whether it’s Seats and Sides, a new set of covers, or even upgrades, Sactionals are built to evolve with our consumers’ needs.”

The Angled Sides are designed with the same base dimensions and geometric modularity as the current Sactional Sides and Roll Arm Sides and can be used interchangeably with these products. In addition, Lovesac is offering the Angled Side Pillow, designed with a unique shape to fit with the Angled Side.

Even with the addition of a new side type, Nelson underscored Lovesac’s commitment to sustainability. “For those looking to add the Angled Side to their Sactionals, we encourage consumers to keep their original Sides for flexibility on future usage and style preferences,” he said. “That’s the beauty of Sactionals: They can be upgraded to meet your changing needs at any time.”

The Angled Side and Angled Side Pillow are available in all custom fabric offerings and can be purchased at Lovesac showrooms now. Consumers will also be able to purchase the new products online starting on Aug. 14.

See also:

• Lovesac grows net sales 21.7% in fourth quarter
• Why Lovesac plans to maximize sales with a bulked up retail presence

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