A new report claims that Overstock.com, Inc. (NASDAQ:OSTK) is planning to add two-day delivery.
The report claims that the online retailer is planning to work with XPO Logistics Inc (NYSE:XPO) to handle these deliveries. This would have it outsourcing its “warehousing, distribution, transportation, returns, and last-mile deliveries” to the company.
An Overstock.com spokesman says that the company doesn’t have a deal with XPO Logistics and refused to further comment on them matter when asked by The New York Post. However, an unnamed source close to the matter claims that talks between the two companies are in the advanced stages.
The unnamed source claims that the deal will allow Overstock.com to become the first retailer that will offer two-day delivery to 87% of its customers. XPO Logistics announced earlier this month that it plans to expand its network for last-mile deliveries with 10 new hubs, which would also help OSTK’s deliveries.
Amazon.com, Inc. (NASDAQ:AMZN) signed a deal with XPO Logistics earlier this year. The online retail giant is having the logistics company handle deliveries for its appliances and furniture, which typically take a few weeks to get to customers.
Overstock.com has also been working to expand the type of products that it sells online. This includes the introduction of a new website that is specifically for buying cars. The website went live late last month. Reviews for cars on the website are being provided by Motor Trend.
OSTK stock was up slightly as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.