Overstock.com, Inc.announces an integration with ShapeShift, the world’s leading instant digital asset exchange, that allows c

Overstock.com Becomes First Major Retailer to Accept Altcoins

Overstock.com Becomes First Major Retailer to Accept Altcoins

 Overstock.com, Inc.announces an integration with ShapeShift, the world’s leading instant digital asset exchange, that allows c

PRESS RELEASE  Overstock.com, Inc. (NASDAQ:OSTK) announces an integration with ShapeShift, the world’s leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock’s selection of nearly 4 million products, including, furniture, accessories, bedding, décor, rugs, DIY, and more.

ShapeShift allows digital currencies to be easily converted between different coin types in a matter of seconds, all without any account setup or personal data required. Instead, the funds are sent to a specific address, with the blockchain record of the transaction acting as both the order and the receipt.

During checkout, customers will select their preferred cryptocurrency and submit the order before being prompted to transfer the coins, just as they would with any other digital wallet transaction. Overstock will then utilize ShapeShift to convert the cryptocurrencies to bitcoin. Refunds from a cryptocurrency purchase will also be made in bitcoin, however customers can easily exchange those to their preferred cryptocurrency through ShapeShift.



 Overstock.com, Inc

“Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins. For that reason, we have been an early proponent and adopter of cryptocurrencies,” said company CEO and founder Patrick M. Byrne. “ShapeShift has provided an elegant way for users of any digital currency to transact seamlessly and privately across chains, and we’re excited to harness that ability to the benefit of our customers.”

“Overstock’s long history with bitcoin and blockchain technology demonstrates their commitment to innovation,” said ShapeShift CEO Erik Voorhees. “The ShapeShift team could not be more excited for this partnership and are pleased our technology will be helping the next generation of Overstock customers.”

This year has seen the emergence of several popular non-bitcoin cryptocurrencies, helping the number of transactable digital currencies grow to over 1000, according to Coinmarketcap.com. Bitcoin is still the largest cryptocurrency by market capitalization, however it now represents just under 50% of the market, down from nearly 80% a year ago. ShapeShift supports dozens of these additional growing digital assets. Additionally, in light of the recent Bitcoin Hard Fork, ShapeShift has added support of the forked asset, Bitcoin Cash, allowing Overstock customers to complete their purchases via BCH.

Overstock is the first major retailer to accept multiple cryptocurrencies as payment. This announcement is the latest in a line of major firsts for Overstock in the blockchain world; the e-commerce pioneer became the first major retailer to accept bitcoin in early 2014 and issued the world’s first blockchain stock with its Series A Preferred offering in late 2016 on the t0 platform.

About Overstock.com

Overstock.com, IncCommon Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform:OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furnituredécorrugsbedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Worldstock.com, dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website.

About ShapeShift

ShapeShift is the fastest and safest digital asset exchange in the world. From start to finish, users can exchange blockchain tokens in seconds, with no account required. The firm pioneered the concept of “Consumer Protection by Design,” enabling web and API-based trading without counterparty risk. See more at: https://shapeshift.io

O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc.  O.biz and Space Shift are also trademarks of Overstock.com, Inc.  Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain 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.  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’s Form 10-K for the quarter ended June 30, 2017, which was filed with the SEC on August 3, 2017, and any subsequent filings with the SEC.

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Retailer Gymboree files bankruptcy; CFO Andrew North departs

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Retailer Gymboree files for bankruptcy; CFO Andrew North departs

BUZ INVESTORS   Gymboree files bankruptcy Gymboree Corp. filed for chapter 11 bankruptcy protection Monday after retaining a turnaround firm last

BUZ INVESTORS   Gymboree files bankruptcy Gymboree Corp. filed for chapter 11 bankruptcy protection Monday after retaining a turnaround firm last month to assist with its operations.

The children’s apparel retailer, which also announced the departure of Chief Financial Officer Andrew North, has been in discussions with lenders since the beginning of the year as it grapples with a heavy debt load, much of which stems from Bain Capital’s $1.8 billion leveraged buyout of the retailer in 2010.

In conjunction with the filing, the company said it secured commitments for up to $308.5 million in additional financing. Public filings show Gymboree has some $1.043 billion in outstanding debt, of which about $872 million is due in less than a year.




Gymboree files bankruptcy

 

Children’s clothing seller Gymboree filed for bankruptcy, hoping to cement a deal to slice more than $900 million in debt off its books and survive the shakeout in the retail sector.

More than 375 stores, perhaps as many as 450, will be closed in the restructuring to allow Gymboree to free up capital to boost its online selling effort, court papers say.

This was widely expected, but is yet another headline to weigh on retail and retail REITs.  Look past the noise.  The thinning of the overleveraged and over stored herd will be beneficial.

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Nordstrom Inc.(JWN)- NYSE

Nordstrom shares leap 20% as retailer explores going private

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Nordstrom shares leap 20% as retailer explores going private

BUZ INVESTORS  Nordstrom shares leap 20%  Shares of department store chains got a nice bump in morning trade Thursday, as Nordstrom Inc.’s (JWN), +11.12% plan to explore a going private transaction helped fuel investor attention. Nordstrom’s stock soared 12.6%, and was by far the biggest percentage gainer in the S&P 500 SPX, +0.02% after the high-end department store chain said members of the Nordstrom family had formed a group to consider taking the company private. Meanwhile, shares of Macy’s Inc. M, +0.84% shot up 2.9%, to place it fourth on the S&P 500’s gainers list. Elsewhere, shares of Dillard’s Inc.(DDS), +2.31% rallied 4.2%, Kohl’s Corp. KSS, -0.83% climbed 0.7% , J.C. Penney Co. Inc. JCP, -2.09% rose 0.7%, while Sears Holdings Corp.

source: tradingeconomics.com

Nordstrom shares leap 20%

The department store sector rockets higher off an announcement by Nordstrom (JWN) +15.7%) that it is exploring a go-private transaction through a special committee

Gainers off the M&A buzz include Sears Holdings (SHLD +1.9%), Kohl’s (KSS) +2.2%), J.C. Penney (JCP) +1.5%), Macy’s (M +3.3%), Bon-Ton Stores (BONT) and Dillard’s (DDS +7%).

Business Description

Industry: Retail – Apparel & Specialty » Department Stores    NAICS: 448140    SIC: 5651
Compare: OTCPK:(FYRTY), OTCPK:(RYKKY), NYSE:(M), NYSE:(KSS), OTCPK:(MAKSY), NYSE:(CNCO), NYSE:(CBD),

OTCPK:(SRGHY), OTCPK:(WLWHY), OTCPK:(SURRF), OTCPK:(GPOVY), OTCPK:(ONZBF),

OTCPK:(ELPQF), OTCPK:(HNORY), OTCPK:(RRETY), OTCPK:(LFSYY), NYSE:(DDS), NYSE:(JCP),

OTCPK:(HBAYF), OTCPK:(AONNY) » details

Traded in other countries: NRD.GermanyJWN.Mexico,
Headquarter Location: USA

Nordstrom Inc operates as a fashion specialty retailer, with stores located in US, as well as is engaged in e-commerce business through Nordstrom.com, Nordstromrack.com/HauteLook and TrunkClub.com.

Nordstrom is a retailer of women’s apparel (31% of sales), shoes (23%), men’s apparel (17%), accessories (12%), cosmetics (11%), and kids’ apparel (3%) catering to the upper-middle and high-end income classes. Nordstrom operates more than 300 stores, including full-priced Nordstrom and Nordstrom Rack stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com, HauteLook, and Trunk Club.

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BUZ INVESTORS Home Depot up 2% Home Depot Inc. shares (HD), +1.09% rose 2% in premarket trade Tuesday, after the company beat quarterly earnings estimates and raised its profit outlook for the year.

Home Depot up 2% premarket after retailer beats with earnings, lifts outlook

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Home Depot up 2% premarket after retailer beats with earnings, lifts outlook

 

BUZ INVESTORS  Home Depot up 2% Home Depot Inc. shares (HD), +1.09% rose 2% in premarket trade Tuesday, after the company beat quarterly earnings estimates and raised its profit outlook for the year. The home-improvement retail chain said it had net income of $2.0 billion, or $1.67 a share, in the first quarter, up from $2.8 billion, or 41.44 a share, in the year-earlier period. Sales rose to $23.9 billion from $22.8 billion. The FactSet consensus was for EPS of $1.61 and sales of $23.8 billion. Same-store sales rose 6%, also ahead of the FactSet consensus of 5.65



Home Depot up 2%

Home Depot just reported its Q1 earnings and it was once again a dandy of a quarter. That said the company still has a valuation that is pricing continued growth at 24 times current earnings. But this is justifiable if the growth continues. Judging from this performance in Q1, once again it seems that the growth is indeed set to continue and so its pricing is still justified, and it’s going higher! The company saw strong Q1 sales of $23.9 billion. This was a 5.0% increase compared to Q1 2016, and beat by $180 million. Comparable store sales also rose. They came in +5.5% in Q1, and comparable sales for U.S. stores continue to be strong, coming in at +6.0%. This continues to be solid growth for a company of this size and so far the company is right on schedule with my 2017 buy call and top choice in the retail space, which is being battered.

As you can imagine rising comparable sales and higher revenues led to better earnings. Here in this report earnings per share were up 16% year-over-year. This growth is what we have become accustomed to and it helps justify the valuation. Net earnings for Q1 2017 came in at $2.0 billion. This translates to $1.67 per share, compared to $1.44 per share brought in during Q1 2016. These results surpassed estimates by $0.06. While much of this improvement is from fiscal discipline and of course from rising sales, the earnings per share bump also reflects the company’s buyback which improves the earnings per share a bit. Still the continued growth is impressive and, in light of that, this remains a stock that you should consider on any meaningful pullback. Craig Menear, Chairman and Chief Executive Officer and President of Home Depot, stated:

 

Business Description

Industry: Retail – Apparel & Specialty » Home Improvement Stores    NAICS: 444110    SIC: 5211
Compare: NYSE:(LOW), OTCPK:(KGFHF), OTCPK:(HPCRF), NYSE:(FND), OTCPK:(FKRAF), NAS:(TTS), NYSE:(LL), NYSE:(HVT), OTCPK:AERO, OTCPK:(CLWY), OTCPK:(TGAFF), OTCPK:(GRSU) » details
Traded in other countries: HD.Argentina, HOME34.Brazil, HD.Chile, HDI.Germany, HD.Mexico, HD.Switzerland, 0R1G.UK,
Headquarter Location: USA

The Home Depot Inc is a home improvement retailer. Its stores sell an assortment of building materials, home improvement and lawn and garden products and provide a number of services.

Home Depot is the world’s largest home-improvement specialty retailer, operating nearly 2,300 warehouse-format stores throughout the United States, Canada, and Mexico. The firm’s stores offer products and services for home construction, renovation, remodeling, and maintenance. The acquisition of direct marketer and distributor Interline Brands in 2015 allowed the company to enter the maintenance, repair, and operations sector.

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Abercrombie & Fitch stock rallies Shares of Abercrombie & Fitch Co. (ANF), +5.90% edged up 0.2% in premarket trade Thursday,

Abercrombie & Fitch up 14% amid Reuters report retailer fielding buyout interest

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Abercrombie fields takeover interest

BUZ INVESTORS  Abercrombie & Fitch <span data-recalc-dims=(NYSE:ANF) is working with investment bank Perella Weinberg Partners to field takeover interest from other retailers, sources told Reuters." width="300" height="200" srcset="https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/05/download-1.jpg?resize=300%2C200 300w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/05/download-1.jpg?w=702 702w" sizes="(max-width: 300px) 100vw, 300px" />

BUZ INVESTORS  Abercrombie & Fitch (NYSE:ANF) is working with investment bank Perella Weinberg Partners to field takeover interest from other retailers, sources told Reuters.

The company has struggled as its logo-stamped t-shirts and sweaters, once popular among teenagers, have lost their fashion appeal.

It’s a vulnerable acquisition target: ANF shares are trading at a 17-year low.




Abercrombie & Fitch up 14%

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U.S. teen apparel retailer company Abercrombie & Fitch Co (ANF.N) is working with an investment bank to field takeover interest from other retailers, people familiar with the situation said on Tuesday.

Abercrombie’s shares are trading at a 17-year low, making it a vulnerable acquisition target. The company has struggled as its logo-stamped t-shirts and sweaters, once popular among teenagers, have lost their fashion appeal.

Abercrombie has hired investment bank Perella Weinberg Partners to handle the takeover approaches, the two sources said, asking not to be identified because the matter is confidential. There is no certainty that any deal will occur, the sources added.

Many of Abercrombie’s peers, which also rely on mall traffic for their sales, have faced financial pressure. Aeropostale Inc, Wet Seal and BCBG Max Azria Group LLC are among the retailers that have filed for bankruptcy over the past two years.

While Abercrombie made its mark in the 1990s with its risque advertising and its large logo on apparel, millennial shoppers have more recently eschewed such heavy branding in favor of more independent style. It redesigned its logo in 2014 to renew its image.

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