US' Beyond, Inc sells Zulily to Lyons Trading, retains 25% stake

“We have made significant progress in improving the performance of Bed Bath & Beyond and Overstock.com through sequential margin improvement, improved site experience, vendor consolidation and right-sizing our fixed expenses. With the recent acquisition of buybuy Baby, we want our team laser focused on our core brands as we march towards profitability,” said Adrianne Lee, Beyond’s President and CFO.

“This sale reflects our commitment to resource optimization, our mandate to delivering profits for our home and family-centric brands, and a focus on our largest growth opportunities as a Company,” said Alex Thomas, COO of Beyond.

The Company expects the impact of the sale to be immaterial to its adjusted earnings per share on a full-year basis.

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ALCHEMPro News Desk (RM)