Overstock.com announced a sharp drop in its active customers and earnings in Q4.
The Utah-based direct-to-consumer (D2C) retailer also saw a decline in its full-year earnings.
Overstock posted quarterly revenues of $405M, down 34% YoY.
- The company's annual revenues declined by 30% due in part to a "weak macroeconomic backdrop," according to the release.
- Overstock's active customers fell by 36% to 5.2 million in Q4.
- The company said that it is now working with influencers to boost the popularity of its app, which the company uses to target a younger demographic.
- CEO Jonathan Johnson noted that Overstock is working to improve its web experience and internal search functionality to accommodate an increased assortment of products.
