SALT LAKE CITY, Nov. 4, 2014 (GLOBE NEWSWIRE) -- Online shopping site, Overstock (Nasdaq:OSTK), announced today that book prices across the site are lower than Amazon's. Additionally, members of Overstock's Club O loyalty program will now receive 15 percent back in reward dollars on every book purchase through Cyber Monday, which falls on Dec. 1 this year.
Patrick M. Byrne, Overstock CEO, said "We will analyze the results and cost benefits of this price war against Amazon and decide how long to continue the promotion. Right now it's scheduled to last through Cyber Monday."
Club O memberships can be purchased for $19.95 per year. Members receive free shipping and Club O Rewards of 5 to 25 percent. These rewards accumulate and may be used on future purchases. All books have been set to earn 15 percent rewards for the duration of this promotion.
Overstock.com, Inc. (Nasdaq:OSTK) is a discount online shopping retailer based in Salt Lake City, Utah that sells a broad range of products including furniture, rugs, bedding, electronics, clothing, and jewelry. Worldstock.com, a fair trade department dedicated to selling artisan-crafted products from around the world offers additional unique items. Main Street Revolution supports small businesses across the United States by providing them a national customer base. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. The NRF Foundation/American Express 2011 Customer Choice Awards ranked Overstock #4 in customer service among all U.S. retailers. Overstock sells internationally under the name O.co. Overstock Shopping (http://www.overstock.com and http://www.o.co) regularly posts information about the company and other related matters under Investor Relations on its website.
Overstock.com®, O.co®, Worldstock Fair Trade® and Club O Rewards® are registered trademarks of Overstock.com, Inc. O.info™, Club O™, Club O Dollars™ and Your Savings Engine™ are trademarks of Overstock.com, Inc.
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, terms of and duration of the promotions announced. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended Sept. 30, 2014, which was filed with the SEC on Oct. 28, 2014, and any subsequent filings with the SEC.