{"id":796550,"date":"2024-12-20T13:23:09","date_gmt":"2024-12-20T18:23:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/beyond-inc-announces-sale-of-corporate-headquarters-closing\/"},"modified":"2024-12-20T13:23:09","modified_gmt":"2024-12-20T18:23:09","slug":"beyond-inc-announces-sale-of-corporate-headquarters-closing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/beyond-inc-announces-sale-of-corporate-headquarters-closing\/","title":{"rendered":"Beyond, Inc. Announces Sale of Corporate Headquarters Closing"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\u2014 <em>Company On Track to Deliver $65 Million Annualized Fixed Cost Reduction\u00a0<\/em>\u2014<\/p>\n<p align=\"center\">\u2014 <em>Company to Maintain Presence in Salt Lake City <\/em>\u2014<\/p>\n<p>MIDVALE, Utah, Dec.  20, 2024  (GLOBE NEWSWIRE) &#8212; Beyond, Inc. <em>(NYSE:BYON),<\/em> owner of Bed Bath &amp; Beyond, Overstock, Zulily, and other online retail brands designed to unlock your family\u2019s and home\u2019s potential (\u201cthe Company\u201d), today announced that it has completed the transaction with Salt Lake County to sell the Company\u2019s corporate headquarters located in Midvale, Utah on December 20, 2024. The sale of the corporate headquarters aligns with the Company\u2019s strategic plan to reduce debt\u00a0and fixed costs, free up capital for new growth opportunities, and generate cash flow.<\/p>\n<p>\u201cI am pleased to report we have delivered almost 90% of our $65 million\u00a0annualized fixed cost expense reduction while making sequential progress on our critical business KPIs, with meaningful improvement in December,\u201d said Adrianne Lee, Chief Financial and Administrative Officer. \u201cWe have leased new office space in the Salt Lake City area to serve as our corporate headquarters, which is well-suited for the current and evolving needs of our business and will reduce our fixed cost expense base.\u201d<\/p>\n<p>The sale of the corporate headquarters includes a lease-back to the Company, by which the Company can continue to use and occupy a 5,000 square foot data center. The Company intends to use the proceeds from the sale to fully pay off its associated mortgage obligations, with the remainder to fund operations.<\/p>\n<p>\n        <strong><br \/>\n          <u>About Beyond<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Beyond, Inc. (NYSE:BYON), based in Midvale, Utah, is an ecommerce expert with a singular focus: connecting consumers with products and services that unlock their families\u2019 and homes\u2019 potential. The Company owns Overstock, Bed Bath &amp; Beyond, Baby &amp; Beyond, Zulily, and other related brands and associated intellectual property. Its suite of online shopping brands features millions of products for various life stages that millions of customers visit each month. Beyond regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Beyond.com.<\/p>\n<p>Beyond, Bed Bath &amp; Beyond, Welcome Rewards, Zulily, Overstock and Backyard are trademarks of Beyond, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.<\/p>\n<p>\n        <strong><br \/>\n          <u>Cautionary Note Regarding Forward-Looking Statements<br \/><\/u><br \/>\n        <\/strong>This press release contains 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 all statements other than statements of historical fact, including but not limited to statements regarding the timing and use of lease-back, and our use of proceeds from the sale of our corporate headquarters. 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&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 23, 2024, on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on October 25, 2024, and in our subsequent filings with the SEC.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:100%;width:100%;min-width:100%;border-top: solid black 1pt;border-left: solid black 1pt;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;border-right: solid black 1pt\">\n            <strong><br \/>\n              <u>Contact Information<\/u><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;border-right: solid black 1pt\">Investor Relations &amp; Public Relations<br \/>ir@beyond.com<br \/>pr@beyond.com<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyMjc1NyM2NjQ3MzcwIzIwMDgxMTc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YmM2YThjYWQtZjg5OC00YTk0LWEwZTEtN2NmYjUyMTQ4MDUzLTEwMTk2OTA=\/tiny\/Beyond-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u2014 Company On Track to Deliver $65 Million Annualized Fixed Cost Reduction\u00a0\u2014 \u2014 Company to Maintain Presence in Salt Lake City \u2014 MIDVALE, Utah, Dec. 20, 2024 (GLOBE NEWSWIRE) &#8212; Beyond, Inc. (NYSE:BYON), owner of Bed Bath &amp; Beyond, Overstock, Zulily, and other online retail brands designed to unlock your family\u2019s and home\u2019s potential (\u201cthe Company\u201d), today announced that it has completed the transaction with Salt Lake County to sell the Company\u2019s corporate headquarters located in Midvale, Utah on December 20, 2024. The sale of the corporate headquarters aligns with the Company\u2019s strategic plan to reduce debt\u00a0and fixed costs, free up capital for new growth opportunities, and generate cash flow. \u201cI am pleased to report we have delivered almost 90% &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/beyond-inc-announces-sale-of-corporate-headquarters-closing\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Beyond, Inc. Announces Sale of Corporate Headquarters Closing&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-796550","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Beyond, Inc. Announces Sale of Corporate Headquarters Closing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/beyond-inc-announces-sale-of-corporate-headquarters-closing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beyond, Inc. Announces Sale of Corporate Headquarters Closing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"\u2014 Company On Track to Deliver $65 Million Annualized Fixed Cost Reduction\u00a0\u2014 \u2014 Company to Maintain Presence in Salt Lake City \u2014 MIDVALE, Utah, Dec. 20, 2024 (GLOBE NEWSWIRE) &#8212; Beyond, Inc. (NYSE:BYON), owner of Bed Bath &amp; Beyond, Overstock, Zulily, and other online retail brands designed to unlock your family\u2019s and home\u2019s potential (\u201cthe Company\u201d), today announced that it has completed the transaction with Salt Lake County to sell the Company\u2019s corporate headquarters located in Midvale, Utah on December 20, 2024. The sale of the corporate headquarters aligns with the Company\u2019s strategic plan to reduce debt\u00a0and fixed costs, free up capital for new growth opportunities, and generate cash flow. \u201cI am pleased to report we have delivered almost 90% &hellip; Continue reading &quot;Beyond, Inc. 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