Overstock.com Seeks Expansion Into Physical Retail
Many physical retailers are looking to stretch the legs of their e-commerce divisions to maintain sales in the era of COVID-19 and the "retail apocalypse." But internet furniture and home merchandise seller Overstock.com (NASDAQ: OSTK) is taking the opposite approach, and is pursuing growth in "meatspace" after years of a cyberspace-only model.
According to statements by company retail president Dave Nielsen to Adweek, Overstock is so eager to get a brick-and-mortar presence in 2021 it might sell itself to a retailer with a significant lineup of physical store locations. Nielsen said Overstock leadership would prefer being acquired over starting its own stores, though it's also considering a partnership or merger.
Image source: Getty Images.
Source Fool.com
