Beyond sets Cyber 5 sales record with revenue up 24% y/y

Beyond announced record sales performance for the “Cyber 5” period from Thanksgiving Day through Cyber Monday. The Company also announced that it has initiated a fixed cost restructuring plan targeting approximately $25 million of annualized reductions by early 2025. 2023 Cyber 5 sales were the largest in the Company’s history. Estimated net revenue grew 24% year-over-year. On an aggregate basis, bedding, bath, kitchen and core furniture and decor categories delivered growth. Active customers at the end of the Cyber 5 period exceeded 5.3 million. The Company will continue to invest in building the customer file and taking back market share. Additionally, the Company is on its way to a multi-phase relaunch of Overstock.com to reignite historical top performing categories.