Beyond – parent of Overstock, Bed Bath & Beyond, and Zulily – has posted a lower loss for the second quarter, which management attributed to the company’s ongoing plan to return to growth.

Net loss for the three months ended June 30 narrowed to $42.5 million from $73.5 million in the prior-year period.

Total net revenue fell 5.7 per cent year-over-year to $398 million, while orders delivered rose 8 per cent. The number of active customers increased 35 per cent to 6.2 million.

“We have made significant progress in the past 150 days and will continue to execute our plan to achieve growth and profitability,” said Marcus Lemonis, executive chairman of Beyond.

“We are building each of our brands to leverage their legacy strengths while leaning into vast white space, which will allow us to incrementally monetize these assets.”

Adrianne Lee, chief financial and administrative officer, added that the company is more than two-thirds of the way through its plan to reduce fixed expenses by $45 million annually.

For the first half, the company’s net revenue was down 3 per cent to $780 million, while net loss was $116.5 million compared to $83.8 million last year.