Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Salt Lake's Overstock.com rises after sales jump beats estimates
This is an archived article that was published on sltrib.com in 2010, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Shares of Overstock.com Inc., the Salt Lake City-based online discount retailer, climbed to the highest level since July 2008 on the Nasdaq after first-quarter sales rose 42 percent.

Sales climbed to $264.3 million from $185.7 million a year earlier, the company said today in a statement. Two analysts estimated $222.5 million on average.

Overstock sells products, from jewelry to DVDs, buying excess inventory from other companies and selling it at lower prices.

The shares advanced $4.15, or 21 percent, to $23.88 in Nasdaq Stock Market trading, after touching $26.50. Shares have gained 76 percent this year.

The company reported net income of $3.73 million for the three months ended March 31, according to the statement. That compared with a $3.94 million loss a year earlier.

Overstock.com will conduct a conference call at 7 a.m. Thursday to discuss the quarter's results.

Article Tools

 Print Friendly
 
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.