“It is our vision, particularly with many off-price retailers leaving the e-commerce space, to become the North American leader where companies big and small can utilize the platform to reduce inventory in their own businesses and improve their turns and margins. They are essentially our vendors and suppliers,” Lemonis told investors during the call regarding plans for Overstock.com.

“In addition to our traditional vendors, we are in the early innings of entering the true liquidation reverse logistics and closeout business. We have formed material relationships with liquidators, jobbers, wholesalers and reverse logistics companies and are finalizing a formal agreement with a large-scale closeout and reverse logistics company,” Lemonis added.

As for the Bed Bath & Beyond brand, Nielsen said the company saw growth in core legacy categories that include bedding, bath, and decor, as well as emerging strength in patio and outdoor furniture. He also noted that the merchandising team is “working hard to bring back a number of important name brands that left years ago, which we think will move the needle in reviving Bed Bath & Beyond.”

For the second quarter, Beyond narrowed its net loss to $42.6 million, or 93 cents a diluted share, from a net loss of $73.5 million, or $1.63, in the year-ago period. Net revenue fell 5.7 percent to $398.1 million from $422.2 million a year ago.

For the six months, the net loss widened to $116.5 million, or $2.55 a diluted share, from a net loss of $83.8 million, or $1.86, in the year-ago period. Net revenue fell 2.9 percent to $780.4 million from $803.4 million.

The company didn’t provide specific guidance for the third quarter and full year, although Lemonis said during the call that “it is our expectation that at some point in 2025, we are able to achieve profitability.”

Zulily began as a children’s apparel flash-sale site in 2009, and became a Wall Street tech darling in 2013 following its initial public offering that valued the company at $2.6 billion. Sales began to slow in 2014 and the company was acquired by Liberty Interactive’s QVC division in August 2015 for $2.4 billion. Following a 2019 restructuring and several rounds of layoffs, Zulily was sold by Qurate Retail, the former Liberty Interactive before its rebrand, to private equity firm Regent LP in May 2023 for an undisclosed amount. The operation was shut down last December.

Jefferies equity analyst Jonathan Matuszewski said that re-establishing profitability could be “12+ months away from that milestone.” He has a “hold” rating on shares of Beyond Inc. “Isolating pockets of the industry where Wayfair, Walmart, and TJX are not taking share—outside of liquidation—is a challenge,” the analyst also noted.