AssetID: 52936362
Headline: UNCAPTIONED: Overstock.com Relaunches Bed Bath & Beyond
Caption: Overstock.com Relaunches Bed Bath & Beyond. On August 1, Bed Bath & Beyond relaunched under a new owner after declaring bankruptcy earlier in 2023. NBC reports that the iconic home goods retailer's website was relaunched by the new owner, Overstock.com. According to Overstock CEO Jonathan Johnson, the goal is to capitalize on Overstock's business model combined with Bed Bath & Beyond's known brand name. Johnson said that customers visiting the relaunched site will receive up to $50 of loyalty reward points reinstated from former membership accounts. A number of other perks will also be helping to promote the new site, including 20% off, along with existing rewards for members of Overstock's loyalty program. Customers who download the new Bed Bath & Beyond mobile app will also receive 25% off initial purchases. NBC reports that Johnson said that Overstock would be adopting the Bed Bath & Beyond name because , "we really liked their name, and it was an iconic brand people loved” . "People view Overstock as liquidation, which is what we were 25 years ago when we started, but that’s not what we’ve been for the past two decades.", Jonathan Johnson, Overstock CEO, via NBC. In June, Overstock announced a $21.5 million cash deal to acquire Bed Bath & Beyond's intellectual property and digital assets. In April, Bed Bath & Beyond filed for Chapter 11 protection after repeatedly failing to reboot its long-running business. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Overstock,Overstock.com,Relaunches,Bed Bath & Beyond,Furniture,Home,Appliances,Bankruptcy,Company,Owner,CEO,Jonathan Johnson,Website,Retailer,Brand,Capitalize,Selling,Digital,Costumers,Business
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