STORES Magazine Ranks Overstock.com Second Hottest Retailer in the Nation
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 percent. (Logo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a) "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." About Overstock.com 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 at http://www.overstock.com. 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 forward-looking statements.
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