ChoiceStream

Overstock.com posted higher web sales for the third quarter, but e-commerce revenue is down for the year to date. Sales increased 4.4% to $195.1 million from $186.9 million in the third quarter of 2008. Spending on technology in the third quarter amounted to 6.4% of total sales, or $12.4 million. Spending on marketing totaled $12.2 million or 6.3% of total sales. CEO Patrick Byrne said, “As we move into our peak selling season, our inventory is good and we are well-positioned to deliver great deals to the cost-conscious consumer.”Read the full article