LuxeYard Drops ‘Flash Sale’ Business Model

Online retailer LuxeYard said it's revamped its website and overhauled its business model to eliminate "flash sales" and concentrate on making its products available continuously. The publicly traded company, which included a "going concern" qualification in recent filings with the Securities and Exchange Commission, also said it had taken steps to reduce operating costs by about 70 percent through, among other things, slashing its staff from 60 to 15 and eliminating several unprofitable merchandise categories.