SALT LAKE CITY, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK), a leading e-commerce home furnishings retailer, has received the No. 2 ranking on the National Retail Federation’s annual Hot 25 Retailers list. The list ranks the nation’s fastest-growing retail companies, as determined by increases in domestic sales between 2019 and 2020. Overstock placed No. 2 after achieving 75 percent sales growth with $2.5 billion in 2020 up from $1.5 billion in 2019.
“This recognition from the National Retail Federation reflects our strategic focus on our home business and our team’s ability to deliver results during a difficult year,” said Jonathan Johnson, Overstock CEO. “Overstock has exceptional employees who work hard every day to profitably grow our market share. We are well poised for continued success for the rest of 2021 and beyond.”
The U.S. Hot 25 list is the annual ranking of the nation’s most impactful and fastest-growing retail companies. Compiled by the NRF using Kantar data, rankings are determined by year-over-year percentage increases in domestic sales.
“It’s clear that many of the retailers who achieved the strongest growth in 2020 can attribute a portion of their success to their expertise in serving shoppers during the pandemic,” Susan Reda, Vice President of Education Strategy at NRF. “Still, the fact that Overstock snagged the No.2 spot on the Hot 25 list is quite an achievement. For some time now the company has been working to become the go-to destination for home goods. It would appear shoppers are getting that message.”
Retailer sales and growth figures are based on Kantar’s Retail IQ integrated research methodology. To learn more about Kantar’s research and reporting methodology, visit https://retailiq.kantar.com/.
For more information on career opportunities at Overstock, visit https://www.overstock.com/careers.
Overstock.com, Inc. (Common Stock (NASDAQ:OSTK) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock (OTCQX:OSTBP)) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, area rugs, bedding and bath, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products. In 2014, Overstock was the first major retailer to accept cryptocurrency as a form of payment and continues to do so. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs – 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.
Cautionary Note Regarding Forward-Looking Statements
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 all statements other than statements of historical fact, including but not limited to statements contained within this release. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on February 26, 2021, in our Form 10-Q for the quarter ended March 31, 2021, which was filed with the SEC on May 6, 2021, in our From 10-Q for the quarter ended June 30, 2021, which was filed with the SEC on August 5, 2021, and in our subsequent filings with the SEC.
Source: Overstock.com, Inc.