Coastal.com Launches Partnership With Overstock
December 11 2013 - 12:25PM
Coastal.com ("Coastal") (Nasdaq:COA) (TSX:COA), the leading online
provider of eyewear, announced today that it has launched a
partnership with Overstock to market Coastal.com's industry leading
eyewear offering to Overstock's large and growing customer base.
Coastal.com has launched their eyeglasses product offering at
Overstock.com and will fulfill orders directly to Overstock's
customers from its U.S. based manufacturing and distribution
facility.
"We are delighted to be partnering with Overstock," stated Roger
Hardy, Coastal.com's Founder and CEO. "The partnership will provide
Overstock customers access to Coastal.com's wide range of top
quality products at great prices with incredible customer
service."
"Adding prescription eyewear to the Overstock website, with
great names at great prices, seemed a natural fit," states
Overstock.com Chairman and CEO Patrick M. Byrne. "Unbeatable
prices, fashionable styles, ease of ordering, stellar customer
service, made the whole concept work for us and for our
customers."
About Overstock.com
Overstock.com (Nasdaq:OSTK) is a discount online shopping
retailer based in Salt Lake City, Utah that sells a broad range of
products including furniture, rugs, bedding, electronics, clothing,
jewelry and cars. Worldstock.com, a fair trade department dedicated
to selling artisan-crafted products from around the world offers
additional unique items. Main Street Revolution supports small
businesses across the United States by providing them a national
customer base. The Nielsen State of the Media: Consumer Usage
Report placed Overstock.com among the top five most visited mass
merchandiser websites in 2011. The NRF Foundation/American
Express 2011 Customer Choice Awards ranked Overstock.com #4 in
customer service among all U.S. retailers. Overstock.com sells
internationally under the name O.co. Overstock Shopping
(http://www.overstock.com and http://www.o.co) regularly posts
information about the company and other related matters under
Investor Relations on its website.
About Coastal.com
Coastal.com is the leading manufacturer and online retailer of
eyewear products offered through a family of world class
websites. Established in 2000, the Coastal.com family of
brands offers an extensive, in stock selection of prescription
eyewear, contact lenses and sunglasses. Coastal.com's vision
is to make the process simple, either on-line or at one of our
retail showrooms, so our customers can see everything life has to
offer. For more information about Coastal.com (Nasdaq:COA),
visit www.coastal.com.
Cautionary Note Regarding Forward-Looking Statements
This News Release may contain "forward-looking statements" as
defined in the U.S. Securities Act of 1933, the U.S. Securities
Exchange Act of 1934, the Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation concerning
the business, operations and financial performance and condition of
Coastal. Statements that are not historical fact are
forward-looking statements. The words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate",
"expect", "goal", "target", "should," "likely," "potential,"
"continue," "project," "forecast," "prospects," and similar
expressions typically are used to identify forward-looking
statements. Examples of such forward-looking statements
include statements relating to: Coastal's perception of the contact
lens and eyeglasses industry or market and anticipated trends in
that market in any of the countries in which Coastal does business;
its anticipated ability to procure products and supplies, or the
terms under which it procures products and supplies; Coastal's
anticipated business operations, inventory levels, ability to
handle specific order and call volumes, ability to fill and ship
orders in a timely manner, ability to achieve greater marketing
efficiency or similar statements; ability to increase its
production; plans for capital expenditure plans; relationships with
suppliers; anticipated results of operations, including but not
limited to anticipated sales, revenues, earnings, tax benefits or
similar matters; the effects of seasonality; sufficiency of cash
flows; and Coastal's perceptions regarding volatility in and impact
of foreign currency exchange rates.
Forward-looking statements are based on the then current
expectations, beliefs, assumptions, estimates and forecasts about
Coastal's business and the industry and markets in which it
operates. Forward-looking statements are not guarantees of
future performance and involve risks, uncertainties and assumptions
which are difficult to predict. Assumptions underlying Coastal's
expectations regarding forward-looking statements or information
contained herein include, among others: that Coastal will maintain
its position in the markets it operates in and will expand into
other markets in a favorable manner; that it will have sufficient
capital to continue making investments in advertising, inventory,
property, equipment and leasehold improvements as well as personnel
to support its business and new product lines, including its
eyeglasses business; that Coastal will be able to generate and
maintain sufficient cash flows to support its operations; that it
will be successful in complying with industry regulatory
requirements in British Columbia and other jurisdictions; that
Coastal will be able to establish and/or maintain necessary
relationships with suppliers; and that it will retain key
personnel. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that forward-looking statements or
information are only predictions, and that Coastal's actual future
results or performance may be materially different due to a number
of factors. These factors include, but are not limited to:
changes in the market; potential downturns in economic conditions;
consumer credit risk; Coastal's ability to implement its business
strategies; competition; limited suppliers; inventory risk;
disruption in its distribution facilities; mergers and
acquisitions; foreign currency exchange rate fluctuations;
regulatory requirements; demand for products Coastal sells;
competition and dependence on the internet as well as those risks
described in the securities filings of Coastal.
Although Coastal believes that its plans, intentions and
expectations reflected in or suggested by such forward-looking
statements are reasonable, actual results could differ materially
from a projection or assumption in any of its forward-looking
statements. Coastal's future financial condition and results of
operations, as well as any forward-looking statements, are subject
to change and inherent risks and uncertainties. The forward-looking
statements contained herein are made only as of the date hereof.
Coastal does not have, or undertake, any obligation to update or
revise any forward-looking statements whether as a result of new
information, subsequent events or otherwise, unless otherwise
required by law.
CONTACT: For Further Information:
Terry Vanderkruyk
Vice President, Corporate Development
Coastal.com
604.676.4498
terryv@coastal.com
or
Liolios Group Inc.
Scott Liolios or Cody Slach
949.574.3860
COA@liolios.com
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