The parent compay of Overstock, BuyBuy Baby and Bed Bath & Beyond has decided to open “at least “ four Overstock sites, which would be a first for Overstock.
Speaking to analysts on the call, Beyond executive chairman and principal executive officer Marcus Lemonis said the Overstock stores would be strategically placed geographically so that vendors and customers can ship product to and return product in “a more efficient manner, which over time will improve our financial performance primarily through margin improvement and returns”.
In addition, Beyond will open a “test” store for BuyBuy Baby, most likely in the Nashville market. The company acquired the global rights of the baby goods brand for $5M in February. (Bed Bath & Beyond’s bankrupt parent company sold BuyBuy Baby to one of its suppliers in July 2023).
Beyond will also expand the baby goods brand via its October 2024 deal with home décor retailer Kirkland’s, whereby Kirkland’s will become Beyond’s exclusive brick-and-mortar operator and licensee for new, smaller-format “neighbourhood” Bed Bath & Beyond stores nationwide.
