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SALT LAKE CITY, Nov 17, 2003 /PRNewswire-FirstCall via Comtex/ -- Overstock.com(R) (Nasdaq: OSTK), an online discount retailer, was named to Internet Retailer magazine's annual "Best of the Web" listing of the Top 50 Retailing Web Sites. Each year, Internet Retailer Best of the Web recognizes web sites that have adopted ground-breaking approaches to online retailing. This year's honorees were announced Nov. 13 at Internet Retailer's headquarters in Chicago.
Utah-based Overstock.com sells high quality, brand name merchandise at deeply discounted prices. It offers more than 100 different categories of products including jewelry, housewares, appliances, toys, books and electronics at an average discount of 50 percent or more off retail prices.
Reasons cited by Internet Retailer for including Overstock.com on this year's list: strong revenue growth; focus on the customer; and compelling new initiatives such as the addition of discount travel bargains, its relationship with Palm, Inc., the rollout of its first radio and TV advertising campaign, and the success of its BMV (books, music, and videos) category.
"We're pleased to include Overstock.com in our list of the Top 50 Retailing Web Sites. Overstock clearly demonstrates that the web and a well thought-out retailing strategy make a powerful combination in building a national retail brand," said Kurt Peters, editor of Internet Retailer.
Overstock.com CEO Patrick Byrne said, "Over the past twelve months we've paid particular attention to the things that matter most to our customers, such as web site performance, easy and effective search and navigation, offering low flat-rate shipping, and delivering exceptional customer service. We've also expanded our product offering. Last November we introduced our BMV category, which has since flourished due to our low prices and selection of approximately 350,000 titles. And we recently introduced discounts on airfares, hotel rooms and rental cars. It's been rewarding to watch the business grow this year, and it's an honor to be among Internet Retailer's Top 50."
In addition to being named to Internet Retailer's Top 50 Retailing Web Sites, this October Overstock.com topped the 'Utah 100' fastest growing companies, and Forbes.com Best of The Web selected Overstock.com's business- to-business Web site, OverstockB2B.com, as one of the "Best of The Web" in the Fall, 2003 "B2B" online edition.
About the Internet Retailer Best of the Web--Top 50 Retailing Sites
The fifth annual Internet Retailer Best of the Web--Top 50 Retailing Sites recognizes excellence in web merchandising within a wide range of retailers. "They are not exclusively the biggest, busiest or most profitable sites," Peters said. "These sites succeed in a competitive market by knowing their customers and understanding how the web site fits into an overall retailing strategy and by their continual improvement of the online shopping experience."
The editors base their selections of the Top 50 on consultations with members of Internet Retailer's Editorial Board of Advisers and with industry consultants and analysts, nominations from readers and the editors' own experience in dealing with sites, both professionally and personally, throughout the year.
About Internet Retailer
Published by Chicago-based Vertical Web Media LLC, Internet Retailer is a monthly national business magazine and web site that serve the retailing community. It focuses on the Internet's vital role in a wide array of retailing activities, including web merchandising, supply chain management and multi-channel integration. Its 34,000 subscribers are senior executives primarily from retail chains, independent stores and catalogs. Internet Retailer's circulation represents the largest multi-channel readership base of any retailing magazine. The magazine also publishes the most widely read e- mail newsletter in retailing, IRNewsLink, which is distributed twice-weekly to 22,000 opt-in subscribers.
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 of Overstock.com, Inc. Palm is a trademark of Palm, Inc. Other brands may be trademarks of their respective owners.
SOURCE Overstock.com, Inc.
Photo : http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-
Kurt Peters, Editor in Chief of Internet Retailer, +1-312-362-9529, firstname.lastname@example.org; or Scott Blevins of Overstock.com, Inc., +1-801-947-3133, email@example.com
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