After reporting a net loss in the fourth quarter, Overstock said it will ramp up its online growth strategy to compete with rivals such as Wayfair.
Overstock reported a fourth quarter net loss of $95.7 million, or $3.72 per diluted share, versus net income of $3.1 million, or 12 cents per diluted share, in the year-earlier period.
Total net revenue for the quarter was $456.3 million versus $526.2 million in the year-prior period. Direct revenue was $18.5 million and partner and other revenue was $437.8 million versus $25.7 million and $500.5 million, respectively, in the year-previous period. Operating loss was $22.7 million as compared to an operating loss of $342,000 in the previous fourth quarter.
For the full fiscal year, the company’s net loss was $109.9 million, or $4.28 per diluted share, versus net income of $12.5 million, or 49 cents per diluted share, in the year earlier.
Total net revenue was $1.74 billion versus $1.8 billion in the prior fiscal year. Direct revenue was $83.1 million and partner revenue was $1.66 billion versus $101.6 million and $1.7…