Bed Bath & Beyond Brand-Acquirer Overstock's Sales Slump In Q3, CEO Says In "Early Stages" To Capitalize Acquisition
Portfolio Pulse from Nabaparna Bhattacharya
Overstock.Com, Inc. (NASDAQ:OSTK) reported Q3 revenues of $373.31 million, missing the analyst consensus of $397.17 million, a 19% YoY decrease. The company also reported an adjusted EPS of $(0.61) loss, beating the analyst consensus of $(0.72) loss. Gross profit was $69.96 million, lower than $107.47 million a year ago. The company's average order value decreased by 21% YoY. However, the company saw a 3% YoY increase in orders delivered. OSTK acquired the Bed Bath & Beyond brand in June and has been successful in acquiring new customers and reactivating past ones.
October 26, 2023 | 4:40 pm
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Overstock's Q3 revenues missed expectations, but the company beat the consensus on adjusted EPS. The acquisition of Bed Bath & Beyond has led to new customer acquisitions and reactivations.
Overstock's Q3 revenues missed expectations, which could negatively impact the stock. However, the company beat the consensus on adjusted EPS, which could offset some of the negative impact. The acquisition of Bed Bath & Beyond and the subsequent new customer acquisitions and reactivations could potentially boost the stock in the future.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100