elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
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| Posted: Mon Aug 30, 2010 12:02 pm Post subject: Overstock Declares War on Online Retail |
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Overstock.com (Nasdaq: OSTK) wants to lower your prices for online shopping. In his recent Investors Business Journal interview, CEO Patrick Byrne stated that his mission was to squeeze out costs and pass the savings to customers. Byrne aims to position Overstock as the low-cost leader in online retail. When asked about the inevitable competition with Amazon.com (Nasdaq: AMZN) for that top spot, he said only, "Let the games begin."
Of course, lowering prices is not an act of pure benevolence. Sometimes, it can be a savvy business maneuver. Costco (Nasdaq: COST) retail warehouses have thrived by offering the lowest prices, then selling them in large amounts. Overstock hopes to succeed through a similar online strategy.
So why is Wall Street giving Overstock the cold shoulder?
more.. link to news article |
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