Overstock.com saw its share price jump 25 percent this week after an impressive Q2 earnings report.
While Wall Street analysts predicted a negative quarter for the online home goods retailer, Overstock stunned investors on Thursday when it revealed that it brought in a record-high $782.5 million in net revenue.
"It was really gratifying to see new customers finding us, experiencing our website, and coming back and purchasing more," Jonathan Johnson, CEO of Overstock.com, told Cheddar Friday.
Johnson credits stay-at-home mandates during the second quarter for his company's success, as workers filled out home offices and residents decided to transform their backyards into private outdoor oases.
"There were a lot of people that were eager to get to the outside of their home in their yards and make them lovely with Overstock purchases," Johnson said. "We did see an early tick up in patio furniture — things for the outdoors like swing sets, above-ground pools."
While Johnson thinks predicting what the pandemic will bring next is a near-impossible task, he still believes a high level of demand can be sustained for the foreseeable future.
"I'm not sure consumers are ready to storm the stores again. I think online's going to be particularly strong," Johnson said, adding that Overstock intended to live up to its name. "Our partners are bringing in product as we speak."
The Tony Awards on Sunday lured 4.85 million viewers to CBS, its largest broadcast audience in six years. CBS says Monday that Nielsen data shows the telecast — hosted by “Wicked” star Cynthia Erivo — scored a 38% increase over last year’s 3.53 million viewers. That’s the largest audience for the Tonys since 2019, when the telecast that year nabbed 5.4 million viewers and “Hadestown” was crowned best new musical. The latest version also had to compete with the second game of the NBA Finals, between the Thunder and Pacers,
After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during a developers conference that focused mostly on incremental advances and cosmetic changes in its technology.
Six weeks before UnitedHealthcare CEO Brian Thompson was gunned down outside a Manhattan hotel last December, Luigi Mangione mused about rebelling against “the deadly, greed fueled health insurance cartel” and expressed that killing the executive “conveys a greedy bastard that had it coming."
Shaquille O’Neal and Allen Iverson once clashed on the court in the 2001 NBA Finals, but now the basketball legends are joining forces to revive the Reebok brand they helped make iconic.
Midea is voluntarily recalling about 1.7 million of its popular U and U+ Smart air conditioners because pooled water in the units may not drain fast enough, leading to mold growth.
