![]() ![]() Overstock might not own most of the inventory it sells through its website, but inventory gluts at its suppliers have a major impact on the retailer’s business. “It's created more people playing in our space that really can't afford to play there,” Overstock CEO Jonathan Johnson said in an interview. And with prices falling, Overstock lost some of its competitive advantage last year. The company’s revenue fell by 30% in 2022, and it lost some of the market share it had gained in the period since the pandemic began, which initially brought a surge in both online and home goods shopping.Īs peers struggled with falling demand and inventory buildups, they have discounted heavily to goods flowing and sales from cratering.
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