Bed, Bath and Beyond Acquirer Overstock.com Stock Is Shooting Higher Today - Here's Why
Portfolio Pulse from Anusuya Lahiri
Overstock.com Inc reported a Q2 FY23 sales decline of 20% YoY to $422.2 million, beating the consensus of $409.7 million. Active customers decreased 29% YoY, orders delivered fell 16% YoY, and the average order value declined 5% YoY. Adjusted EPS of $(0.02) beat the analyst consensus loss of $(0.09). The company held $343 million in cash and equivalents. Overstock's shares are trading higher by 17.80%.
July 27, 2023 | 3:38 pm
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Overstock.com reported better than expected Q2 FY23 sales and EPS, despite declines YoY. The company's shares are trading higher.
Overstock.com's better than expected Q2 FY23 sales and EPS results, despite YoY declines, have likely contributed to the increase in the company's share price. The company's financial health, as indicated by its cash and equivalents, may also be a positive factor for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100