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|Overstock.com Introduces 20 Percent Discount to Amazon.com on 100,000 Books|
SALT LAKE CITY, Feb 7, 2003 /PRNewswire-FirstCall via COMTEX/ --
Overstock.com, Inc. (Nasdaq: OSTK) today announced that it will offer customers 20 percent discounts to Amazon.com on more than 100,000 books. Starting today, shoppers will also be able to view and compare the price of books offered on both sites directly from Overstock.com.
"We want consumers to see for themselves how much they can save, even on relatively low-cost items such as books, by shopping at Overstock.com," said Patrick Byrne, CEO of Overstock.com. "Offering a side-by-side price comparison with the company that has become the de facto standard in Internet book sales provides a vivid and objective demonstration of our value proposition."
Best-known for offering deep discounts on products ranging from home furnishings to apparel to electronics, Overstock.com started selling a significant number of books in the fourth quarter of 2002 and now offers a selection of more than 100,000 titles.
Harry Potter fans, for example, can preorder "Harry Potter and the Order of the Phoenix" for $14.38 on Overstock.com, which is nearly 50% below the $29.99 list price and approximately 20% below the $18.00 price for the book available through other Internet retailers.
Byrne said that while most books on Overstock.com are priced at least 20 percent below Amazon.com, he expects customers will save up to 70 percent versus Amazon.com on some titles.
Featured titles (as of February 7, 2003): Bestsellers -- "Crossroads of Twilight," by Robert Jordan (ISBN: 0312864590) -- "Four Blind Mice," by James Patterson (ISBN: 0316693006) -- "Portrait of a Killer," by Patricia Cornwell (ISBN: 0399149325) -- "What Should I Do With My Life?" by Po Bronson (ISBN: 0375507493) Pre-Orders and New Releases -- "Harry Potter and the Order of the Phoenix," by J.K. Rowling (ISBN: 043935806X) -- "King of Torts," by John Grisham (ISBN: 0385508042) Hottest Deals -- "Lord of the Rings" Box Set (ISBN: 0618002251) -- "Haley's Hints" (ISBN: 0969287348) -- "Life Magazine: Greatest Adventures" (ISBN: 1929049064) -- "Pasta" (ISBN: 0916103234)
Overstock.com is a publicly traded company listed on the NASDAQ National Market System, headquartered in Salt Lake City, Utah and can be found online at www.overstock.com . Overstock.com is a trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies.
NOTE: Overstock.com is a trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies. In particular, Amazon.com is a trademark of Amazon.com, Inc. which is not affiliated with Overstock.com, Inc. Price comparisons valid on featured titles for listed ISBNs only; prices on other ISBNs may vary. Prices are as listed on Amazon.com as of February 7, 2003, and exclude shipping charges. Overstock.com charges $1.40 to ship a single book, and $2.95 to ship two or more books. For current prices, visit www.overstock.com .
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 percentage discount to books offered by Amazon.com, anticipated savings for our customers, the ability of visitors to our web site to compare prices of books, and the number of books and the featured titles on our web site. 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-Q dated November 13, 2002 and our Prospectus dated January 28, 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, Public Relations of Overstock.com, +1-801-947-3133, firstname.lastname@example.org
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