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EcommerceBytes-NewsFlash, Number 1496 - March 16, 2007 - ISSN 1539-5065  2 of 5 
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Overstock.com issued a press release to inform investors it had decided to sell its travel subsidiary, OTravel.com. The company said it has entered into a non-binding letter of intent to sell the business to a third-party. Due to an "impairment" of $4.5 million to the goodwill related to the original purchase of the travel subsidiary, along with $400,000 of other miscellaneous adjustments, Overstock increased its consolidated net loss attributable to common shares to $101.9 million from the previously reported $97.0 million loss. |
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About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. |
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