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|Overstock.com Opens Door to International Consumers|
Now Shipping Internationally to 34 Countries
SALT LAKE CITY, Sept. 9 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK) today announced the online discount retailer has launched capabilities to service international consumers in 34 countries; including those in Canada, the United Kingdom and the European Union.
International shoppers can now search, browse and purchase over 600,000 discount products, priced in local currency, from http://www.overstock.com.
"Many international markets are underserved by online retail," said Patrick Byrne, Overstock.com chairman and CEO. "With the weakness of the dollar the time has never been better for international customers to purchase American goods, creating a great opportunity for us."
International shoppers to Overstock.com now find thousands of products from 10 major categories. The site geolocates visitors and displays pricing in their local currency, automatically adjusted to daily fluctuations in exchange rates. Overstock.com launched its international service beginning with an August 27 soft launch, and experienced no complications or setbacks.
"We wanted to make the process as seamless as possible for our international shoppers, and we're encouraged by the initial results," commented Jake Bailey, Overstock.com's director of international business. "On the first day this program was live, we received orders from 17 different countries, with zero marketing efforts," added Bailey.
Overstock.com originally announced its intentions to expand internationally in May 2008, (http://e4x.com/news_04.html) through partner E4X. Since the announcement the site has seen international traffic increase significantly.
"With the high volume of international customers visiting our site, it's time we give them an opportunity to take advantage of Overstock.com," added Byrne. "We've started with these 34 countries, but plan to expand the number of countries meaningfully over the next year."
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.
Overstock.com(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.
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 number of products and product categories offered to international customers, the number of countries in which customers may be able purchase from Overstock.com, the auspiciousness of the timing of this launch, and the seamlessness of the process for international customers. Our Form 10-K for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward- looking statements.
SOURCE Overstock.com, Inc. -- 09/09/2008