Overstock to rename itself Beyond; switch listing to NYSE with new ticker symbol
Overstock.com Inc. has begun the next chapter of its corporate transformation.
The company, which has been operating as Bed Bath & Beyond following its acquisition of the bankrupt retailer’s intellectual property in June, is changing its corporate name to Beyond, Inc., effective Nov. 6. It also will transfer its stock listing from the Nasdaq Global Market to the New York Stock Exchange (NYSE) and change its ticker symbol from OSTK to BYON.
Following the corporate name change, the retailer said will continue to operate its furniture and home furnishings e-commerce business under the Bed Bath & Beyond brand. (The Overstock site was rebranded as Bed Bath & Beyond in the U.S. in August, offering a wide variety of home products.)
“As we continue the process of transforming our consumer brand, our new corporate name will help us reach millions of new customers with our advantageous and differentiated, asset-light e-commerce business model,” said Jonathan Johnson, CEO. “The name ‘Beyond’ emphasizes our commitment to connect new and legacy customers with a wide assortment of products and services. We expect the corporate name change to enhance the awareness of our iconic consumer brand, Bed Bath & Beyond.”
Overstock.com will continue to trade on the NASDAQ with ticker symbol OSTK until the close of market on Friday, November 3. Beyond will begin trading on the NYSE with ticker symbol BYON when markets open on Monday, Nov. 6.
“We are grateful to NASDAQ for their partnership and support over the years," Johnson said. “We are thankful to the NYSE for welcoming us to its prestigious platform. We are excited to join many of the world’s biggest consumer brands, as we begin a new chapter in our corporate transformation.”
In June, The New York Times reported that Overstock was considering renaming its business entirely in a move to reflect its updated business model. The company was founded 1999 as a liquidator, but has since transformed itself into an online retailer of furniture and home items.
“I can’t tell you how many times I’ve been asked over the years when we’re going to change the name of Overstock,” Johnson told the Times.
Read More: New customers driving growth at revamped Bed, Bath & Beyond