SALT LAKE CITY, Aug. 1 /PRNewswire-FirstCall/ -- STORES Magazine, the
official publication of the National Retail Federation (NRF), announced
today that Overstock.com (Nasdaq: OSTK) was named to the Hot 100 Retailers
list. Ranked second in the nation, Overstock.com was the only pure-play
Internet retailer to make the top 10. In 2005, Overstock's offerings of
discounted brand-name merchandise saw year-over-year revenues increase 62.5
"It's nice to have our hard work recognized," said Patrick Byrne,
chairman and CEO of Overstock.com. "In 2005, we faced one of our greatest
challenges balancing aggressive growth with overhauling our technology
infrastructure. For the past six months, we've focused on improving those
systems and refining our customer service, which we hope will help us top
the Hot 100 list again next year."
The Hot 100 Retailers, sponsored by Alliance Data, highlights the
retail companies that reported the greatest year-over-year revenue
percentage growth. All public companies with more than $100 million in
sales were eligible for the list, which provides a definitive ranking of
the nation's fastest-growing companies. This is the first year that the
list has been compiled.
"Though the hottest retailers in the country are not necessarily the
biggest, they should not be ignored," said STORES Publisher and NRF Vice
President Rick Gallagher. "Any investor will tell you that sometimes the
smallest companies have the most potential for growth."
Overstock.com, Inc. is an online "closeout" retailer offering discount,
brand-name merchandise for sale over the Internet. The company offers its
customers an opportunity to shop for bargains conveniently, while offering
its suppliers an alternative inventory liquidation distribution channel.
Overstock.com, headquartered in Salt Lake City, is a publicly traded
company listed on the NASDAQ National Market System and can be found online
Overstock.com is a registered trademark of Overstock.com, Inc. All
other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Such forward-looking statements
include, but are not limited to, statements regarding the company's ability
to be on the top of the Hot 100 list again and such other risks as
identified in our Form 10-K for the year ended December 31, 2005, and all
our subsequent filings with the Securities and Exchange Commission, which
contain and identify important factors that could cause the actual results
to differ materially from those contained in our projections or