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Overstock's plan to adopt Bed Bath & Beyond's name online could lead to big sales gains, one analyst said.

Since Overstock.com Inc. transformed itself from a liquidator into an online furniture retailer, Chief Executive Jonathan Johnson has said he’s been asked…

New York (CNN) — Overstock.com, one of the biggest names in e-commerce, is ditching its name for something just as recognizable: Bed Bath & Beyond.

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The change comes following a judge's approval of Overstock's purchase of the bankrupt brand's name, domain and loyalty program assets earlier this week for more than $21 million.

Overstock, which chose not to bid on any of Bed Bath & Beyonds retail locations or inventory, will remain an online-only home goods retailer, combining Overstocks strengths with a better-known and stronger brand name, Johnson said in an interview.

The online retailer is making a move to pick up market share in a challenging retail environment.

Bed & Bath & Beyond will live on, online at least, after Overstock.com acquired the bankrupt retail chain’s intellectual property assets for $21.5 million.

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