Goodbye, Overstock. Hello (Again), Bed Bath & Beyond

Overstock has already rebranded itself
By Newser Editors and Wire Services
Posted Aug 2, 2023 2:20 AM CDT
Goodbye Overstock, Hello (Again) Bed Bath & Beyond
FILE - A Bed Bath & Beyond sign is displayed, May 9, 2012, in Mountain View, Calif.   (AP Photo/Paul Sakuma, File)

Overstock has officially relaunched the Bed Bath & Beyond domain online Tuesday in the US, after acquiring the bankrupt retail chain's intellectual property assets for $21.5 million in June, the AP reports. The online retailer Overstock.com said in late June that it was dumping its name online and would become Bed Bath & Beyond, which declared bankruptcy earlier this year. The name change was made in Canada on June 29, but at the time the Midvale, Utah-based company didn't specify a date for the US relaunch. Overstock.com's CEO Jonathan Johnson told the AP in a phone interview last week that the relaunch in Canada has "run without a hitch." The company has added roughly 600,000 bed and bath items since its bid for the retailer became public last month, Johnson said.

The company has still not made any decisions on a corporate name, he said. Johnson had said that the name change was necessary because Overstock still confuses some customers and suppliers who thought it was a liquidator. That's how it got its start in 1999. It transformed in 2004 into a general merchandise retailer, selling a wide variety of items. In 2021, Overstock fine-tuned its strategy to focus on furniture and home decor, getting rid of items like clothing. The Washington Post reports that for the next few months, both companies' logos will be displayed on the Bed Bath & Beyond website, which customers are now directed to if they navigate to the old Overstock.com website. Axios notes this is "one of the fastest-ever relaunches of a bankrupt brand name and website."

As for the iconic and ever-present Bed Bath & Beyond 20% off coupons, they're gone, but the Post says the company formerly known as Overstock plans its own promotions, including big one-time discounts for new loyalty program members or app downloaders. (It also notes that its prices are lower than the original Bed Bath & Beyond prices were.) And for Bed Bath & Beyond customers who had unused Welcome Reward points, the company will reinstate up to $50 of those, and offer a free yearlong membership: "We want those customers feeling comfortable coming back and encourage them to come back," Johnson says. They will not, however, be coming back to any physical stores, as none are currently planned, CNN reports. (More Bed Bath & Beyond stories.)

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