That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
The stadium’s new name reflects Overstock.com’s aim to turn O into a brand.
The home of the Oakland Raiders pro football team and the Oakland Athletics pro baseball team has a new name: the O.Co Coliseum. The name, reflecting the most recent branding effort from web-only retailer Overstock.com, is scheduled to make its formal debut tonight when rock band U2 performs at the venue.
“Our customers associate 'O' with Overstock.com, which made the transition to O.co seamless,” says Overstock.com chairman and CEO Patrick Byrne. "Naming the facility O.co Coliseum demonstrates our commitment to seeing through the execution of the new domain."
In April, Overstock bought the naming rights to the former Oakland-Alameda County Coliseum for a reported $7 million. The Coliseum appears to be the only major pro sports stadium in the United States or Europe carrying the brand of a web-only retailer. Overstock is No. 28 in the Internet Retailer Top 500 Guide. The venue hosts more than 100 events annually, including 10 Raiders games, 81 A’s games, international soccer matches, concerts and corporate events.
Overstock’s naming rights deal runs for six years.
Early this year, the retailer began using the domain O.co, directing consumers who type in O.co to the Overstock e-commerce site. The company wants to brand itself around the letter O.