NASHVILLE, Tenn. – The company that has been operating for nearly a year as Bed Bath & Beyond Inc. will soon assume its fourth corporate identity over two years: from Overstock Inc. to Beyond Inc. to Bed Bath & Beyond Inc., and now, to an entity that points toward its broad long-term strategy.
On Aug. 17, the corporation – a conglomerate of omnichannel retail and e-commerce platforms, home services, and digital/financial/blockchain services – will become Neighborhood Intelligence.
See also: Kirkland’s biz gives Bed Bath & Beyond Inc. a 28% revenue boost
As part of the transition, the company will migrate from the New York Stock Exchange and begin listing on Nasdaq under the ticker NXH. It is also relocating its corporate headquarters from the Salt Lake City area – home to the original Overstock Inc. business – to Nashville, Tenn., home of The Brand House Collective (formerly Kirkland’s Home).
“As the company evolved, it became increasingly clear that the future would never be defined by a single brand, a single product, or even a single business, but by how intelligently we connected everything we do,” executive chairman and CEO Marcus Lemonis explained in a letter to shareholders issued on the afternoon of Aug. 4.
The changes reflect the company’s strategy to grow across its three key pillars:
Omni-Channel Retail, which includes retail businesses and gift registries – the pillar that currently generates the bulk of the company’s revenue
Home Services, which includes a growing suite of renovation services, flooring, carpet, closets, kitchens, garage systems, and organizing, staging, decorating, and holiday decorating services, along with partnerships with a variety of other home service providers in areas such as home maintenance and landscape architecture.
Home Ownership, a still-nascent division that will encompass real estate brokerage, cash offer programs, property and casualty insurance, home warranties, credit union services through partnership, and title, including title on blockchain and the tokenization of real-world assets.
“The average family stays in a home for roughly eleven years, and we exist to make those eleven years simpler and more affordable,” said Lemonis. “Wherever a family joins us on that journey, whether they are buying, owning, improving, or moving on, we intend to have enough intelligence to help them through whatever comes next, built for their circumstances and for the neighborhood they actually live in.”
