Overstock.com(US:OSTK)2022-02-24 16:00Business Operations - The company offers a broad range of price-competitive products, including furniture, décor, and home improvement items, through its websites and mobile app[14]. - The company reported that its sales were almost entirely to customers located in the United States, with no single customer accounting for more than 1% of total net revenue during the years ended December 31, 2021, 2020, and 2019[17]. - The company’s business segments are primarily focused on e-commerce product sales through its website, with pre-tax net income as the measure for reportable segments[28]. - The company’s supply chain allows for direct shipping to customers from suppliers or warehouses, enhancing order fulfillment efficiency[17]. - The company is subject to various laws and regulations that may impact its operations, including those related to e-commerce and consumer protection[33]. Workforce and Employment - The company had approximately 1,350 full-time employees as of December 31, 2021, and has never experienced a work stoppage[35]. - The company hired a total of 232 new employees in 2021, with 177 in non-customer service roles and 55 in customer service and warehouse positions[43]. - The average tenure of employees is five years, with customer service and warehouse departments averaging three and three-quarters years[43]. - The company emphasizes employee development through various resources, including online courses and leadership development programs[46]. - The company actively manages its human capital, with quarterly reviews of its 401(k) plan and discussions on hiring trends in board meetings[50]. Diversity and Inclusion - The company emphasizes a commitment to diversity and inclusion, aiming to increase team diversity and foster an inclusive culture[36]. - The company has taken the ParityPledge to support the advancement of women and people of color into leadership positions[42]. Financial Performance - The company recorded a value of $342.7 million in equity securities as of December 31, 2021, a significant increase from $1.4 million at the end of 2020[213]. - The company's loan agreements carry a fixed blended annual interest rate of 4.45%, mitigating direct financial statement risk associated with interest rate changes[211]. Marketing and Technology - The company utilizes a variety of online and offline marketing methods, including social media campaigns and traditional advertising[20]. - The company maintains proprietary technologies to enhance the customer shopping experience and logistics capabilities tailored to the furniture and home furnishings category[16]. Employee Benefits - The company offers a comprehensive benefits package, including medical, dental, vision, and various insurance options, along with a generous 401(k) matching program[44]. - The company has implemented a formalized remote working policy and added fertility coverage to its medical plans starting January 2022[45]. Talent Acquisition - As of December 31, 2021, the company had approximately 3,000 partners, which contributed to nearly all retail sales through its website[17]. - The company has established relationships with universities and professional associations to enhance talent acquisition efforts[42].