{"id":206432,"date":"2019-10-22T12:00:06","date_gmt":"2019-10-22T17:00:06","guid":{"rendered":"http:\/\/www.etrafficlane.com\/60dollarmiracle\/overstock-plummets-19-on-slashed-profit-forecast-cfo-resignation-ostk"},"modified":"2019-10-22T12:00:17","modified_gmt":"2019-10-22T17:00:17","slug":"overstock-plummets-19-on-slashed-profit-forecast-cfo-resignation-ostk","status":"publish","type":"post","link":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/overstock-plummets-19-on-slashed-profit-forecast-cfo-resignation-ostk","title":{"rendered":"Overstock plummets 19% on slashed revenue forecast, CFO resignation (OSTK)"},"content":{"rendered":"

\"overstock\"Facebook.com\/ overstock<\/p>\n<\/p>\n

Shares of Overstock.com<\/a> sold as much as 19% lower on Monday after the company announced the resignation<\/a> of its chief financial officer and issued a warning that full-year retail earnings could miss previously targets set. Robert Hughes, who invest nine years working in senior management roles at Overstock, will step-in as acting CFO. Greg Iverson resigned from the role on September 17. Overstock said its retail business is currently bursting even, but its full-year profit guidance relied on generating substantial positive earnings in the third-quarter. The firm cited increased costs from excises as a primary move. The company’s former chief executive officer Patrick Byrne resigned from Overstock last August after realizing statements<\/a> regarding the “Deep State, ” which transmitted shares of Overstock tumbling. Visit the Grocery Insider homepage for more narratives<\/a>.<\/p>\n

Shares of Overstock.com<\/a> hurtled as much as 19% on Monday after the company said its chief financial officer was leaving the company. The retailer also published a warning that full-year retail earnings could miss estimations, primarily due to the impact of excises. <\/p>\n

Overstock projected its retail business would generate $ 17.5 million in adjusted EBITDA in 2019. The house said during a press release on Monday<\/a> that the retail business is currently divulging even, and its full-year forecasts relied on it engendering significant positive earnings by now. See the rest of the fib at Business Insider<\/a><\/p>\n

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Read more: feedproxy.google.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Facebook.com\/ overstock Shares of Overstock.com sold as much as 19% lower on Monday after the company announced the resignation of its chief financial officer and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-206432","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/206432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/comments?post=206432"}],"version-history":[{"count":0,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/206432\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/media?parent=206432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/categories?post=206432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/tags?post=206432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}