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SALT LAKE CITY, Dec 15, 2003 /PRNewswire-FirstCall via COMTEX/ -- Overstock.com(R) (Nasdaq: OSTK), the first place millions of consumers go online to shop for bargains, today announced a major company milestone: On December 10, Overstock.com broke into the Top 100 most visited web sites by U.S. Internet users for the first time in the four-year-old company's history. Overstock.com ranked 88th among all web sites and twelfth among all shopping web sites that day according to Hitwise, Inc., the leader in online competitive intelligence.
"Clearly, consumers are discovering the secret of The Big O(TM)," said Patrick Byrne, president and CEO of Overstock.com. "Four months ago we regularly ranked around 600 among web sites in terms of the number of visitors; last week we temporarily placed among the top 100 most visited web sites and we've been hovering just over 100 ever since. I'm blown away by that stat."
Each day, Hitwise monitors how more than 25 million Internet users interact with over 450,000 websites across 160 industry categories.
"According to Hitwise data, over the last six months, Overstock's market share of visits to the retail category has increased by nearly 200%. This growth has been on a consistent upward trend while much of the category has shown volatility," said Chris Maher, General Manager of Hitwise, North America.
Overstock.com bears the load
Despite the recent surge in visitors to the web site, Overstock.com reported that things are running smoothly.
"Orders are being fulfilled at a record pace for us as we head into the final week of holiday shopping," said Byrne. "Currently, all orders for product fulfilled from our Salt Lake City warehouse received by 1:00 p.m. Mountain Time are being shipped out the same day. It's critical that we maintain this pace if we're going to keep our commitment to customers that orders received by midnight December 16 will be delivered by Christmas for $1."
Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com is a publicly traded company listed on the NASDAQ National Market System, headquartered in Salt Lake City, and can be found online at www.overstock.com .
Overstock.com is a registered trademark, and The Big O is a trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the pace at which orders are being fulfilled and the date that orders will be delivered. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, but not limited to, our limited operating history, our ability to manage growth, a general downturn in economic conditions, and such other risks as identified in our Prospectus dated May 29, 2002, filed with the Securities and Exchange Commission and all subsequent filings with the Securities and Exchange Commission, including our Form 10- K for the year ended December 31, 2002, and our Prospectus dated February 12, 2003, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.
SOURCE Overstock.com, Inc.
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