MURRAY, Utah — Beyond Inc. is selling off a portion of its ownership in online shopping website Zulily, a brand the company purchased only last year in March 2024.
Under the terms of the sale to Eagan, Minn.-based Lyons Trading Co., Beyond will retain a 25% share and receive $5 million. Lyons, which operates off-price retailer Proozy.com, will own 75% under the definitive agreement between the two companies.
“We have made significant process in improving the performance of Bed Bath & Beyond and Overstock.com through sequential margin improvement, improved site experience, vendor consolidation and right-sizing our fixed expenses,” said Adrianne Lee, president and CEO of Beyond.
“With the recent acquisition of Buybuy Baby, we want our team laser-focused on our core brands as we march toward profitability,” she said.
“This sale reflects our commitment to optimization, our mandate to deliver profits for our home- and family-centric brands and a focus on our largest growth opportunities as a company,” said Alex Thomas, COO at Beyond.
At the time of its purchase of Zulily last year, the company said the addition of Zulily was meant to strength its position in the off-price category in combination with its existing brand, Overstock.
Beyond expects the impact of the sales to be immaterial to its adjusted earnings per share on a full-year basis.
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