Overstock.com 'outperforming Wal-Mart'--Shanghai NIC Network Service Co.,Ltd

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A generically named online shopping centre has performed very well against some serious competitors such as US retail giant Wal-Mart, according to one expert.

Chairman and chief executive officer of Overstock.com, Patrick Byrne, said that his company has performed well this year and that over the coming months this is expected to continue, according to Fox News.

In an interview for Your World with Neil Cavuto last week, Mr Byrne told interviewer Terry Keenan that many people are turning to online shopping to avoid the bad weather and that his website was ready to take full advantage of this.

In response, Mr Keenan agreed that Overstock.com had performed exceptionally well following a period of financial uncertainty in the US and that this had been problematic for some of the company's biggest competitors.

"Compared to Wal-Mart, which has flatlined this year, your stock has done pretty well," he said.

Overstock.com is a retail outlet that offers cut-price merchandise that it acquires through the buying of unwanted or overproduced stock.