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SALT LAKE CITY, Sep 2, 2003 /PRNewswire-FirstCall via COMTEX/ --
Overstock.com(R) (Nasdaq: OSTK) today announced that it is dropping prices on best-selling books to a flat 25% off Amazon.com's pricing for the same books. Books on the following best-seller lists qualify for the discount:
* New York Times Best-Sellers Lists * Publisher's Weekly Best-Sellers Lists * Amazon.com's 100 Best-Sellers (Photo: http://www.newscom.com/cgi-bin/prnh/20030902/LATU055 http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a )
"Over the past 10 months we have built a book department with hundreds of thousands of titles at bargain prices, and the response from customers has been remarkable," said Patrick Byrne, president and CEO, Overstock.com. "We have decided to conduct an experiment, taking books from leading best-seller lists and re-pricing them to be a flat 25% below the price on Amazon.com. This test will run for the remainder of September: we are interested in seeing how customers respond to such significant discounts on the most popular titles. We believe that our unique combination of low pricing and fast, efficient customer service will prove enormously attractive to readers."
A comparison of best-sellers' pricing on Overstock.com versus Amazon.com is available at http://www.overstock.com/cgi-bin/d2.cgi?PAGE=STATICPAGE&PAGE_ID=1076 .
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. Amazon.com is a registered trademark of Amazon.com, Inc. Other third party trademarks are the registered trademarks of the respective third parties. None of these companies are a sponsor or affiliate of Overstock.com or a contributor to the content of Overstock.com's website. These trademarks are used only to identify a competing service. Except as noted, price comparisons are for identical products and are valid for listed ISBNs only; prices for other ISBNs may vary. The Amazon.com prices are as listed on the Amazon.com website as of the date indicated by each price, and do not include shipping charges or taxes, if any. Overstock.com makes every effort to verify that the price comparisons are accurate; however, Overstock.com is not responsible for Amazon.com's shift in prices or variations between compared items.
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 discounts offered on books compared to other retailers and the attractiveness of these discounts to consumers. 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.
Scott Blevins of Overstock.com, Inc., +1-801-947-3133, firstname.lastname@example.org /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030902/LATU055 http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a AP Archive: http://photoarchive.ap.org PRN Photo Desk, email@example.com
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