Seeking Alpha
2020-05-12 17:09:28

Online furniture names jump after Overstock data

Overstock.com (OSTK), in a presentation, disclosed quarter-to-date retail sales were up 130% y/y, adding to the detail it provided with earnings at the end of April.With earnings, retail sales were up 120% y/y in the month to date (April), and with the latest presentation from its annual stockholder's meeting, the trend appears to be strengthening into May.Overstock shares jumped 14%, while online home furnishing competitor Wayfair (W) also outperformed the market, up 3%.Among the highlights, Overstock notes it is hiring, and its blockchain solutions are "solving problems exacerbated by the pandemic"New customer growth is up 85% YTD

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer