Off-price Retailer Changes Hands Again
- Beyond sells Zulily to Lyons Trading Company for $5M
- Zulily’s fourth owner in two years
- Lyons Trading Company acquires off-price retailer Proozy
- Jefferies analysts view the deal favorably
- Bed Bath & Beyond and Overstock to be focus of Beyond Inc.
- Proozy offers premium brands like Under Armour, Adidas, Reebok, Oakley
Beyond Inc. has sold off Zulily, an online retail brand it acquired last year, to Lyons Trading Company, the owner of Proozy, for $5 million. This marks Zulily’s fourth change in ownership in less than two years. The sale is part of Beyond’s efforts to focus on its core brands, Bed Bath & Beyond and Overstock, and improve profitability. Proozy offers premium brands like Under Armour, Adidas, and Reebok.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the sale of Zulily to Lyons Trading Company by Beyond Inc., mentions the reasons behind the decision, and gives insights from analysts and executives. It also includes historical context and background information on Zulily’s previous ownership changes and financial performance.
Noise Level: 6
Noise Justification: The article provides relevant information about the sale of Zulily to Lyons Trading Company by Beyond Inc., but it lacks in-depth analysis or exploration of long-term trends and consequences of decisions. It also does not offer much actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses the sale of Zulily to Lyons Trading Company, which impacts Beyond Inc., Bed Bath & Beyond, and Overstock.com as they focus on their core brands and work towards profitability. It also mentions financial figures such as market cap, debt repayment, and acquisition costs.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text and it does not meet the criteria of happening within the last 48 hours.
www.retaildive.com