Core Viewpoint - Beyond, Inc. has entered into a definitive agreement to sell its Zulily brand to Lyons Trading Company for $5 million while retaining a 25% stake in the brand [1] Group 1: Financial Performance and Strategy - The company has made significant progress in improving the performance of its core brands, including Bed Bath & Beyond and Overstock.com, through margin improvement, enhanced site experience, vendor consolidation, and right-sizing fixed expenses [2] - The sale of Zulily is part of the company's commitment to resource optimization and focusing on its largest growth opportunities, with an expectation that the sale will have an immaterial impact on adjusted earnings per share for the full year [3] Group 2: Company Overview - Beyond, Inc. is an ecommerce-focused affinity company based in Murray, Utah, owning various retail brands, including Bed Bath & Beyond, Overstock, and buybuy Baby, aimed at unlocking customers' home potential through a vast data cooperative [4]
Beyond Announces Sale of Majority stake in Zulily Brand