Overstock cuts new loss by trimming expenses

Overstock.com Inc., a Salt Lake City-based online seller of excess retail inventory, said its fourth-quarter loss shrank after it reduced expenses.

The net loss narrowed to $4.25 million, or 18 cents a share, from $45.6 million, or $2.15 a share, a year earlier, the company said Wednesday in a regulatory filing. Operating expenses dropped to $53.6 million from $68.3 million.

Overstock.com closed at $10.89 in Nasdaq Stock Market composite trading Wednesday, up 18 cents from the previous day's closing share price.