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Wayfair Stock Slides on Wider-Than-Expected Loss
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Key Points
- Wayfair stock was bigger than analysts expected after the company’s adjusted losses in the fourth quarter.
- The company achieved expected revenue expectations in the quarter but said it expects revenue to remain flat or decline year-on-year in the first quarter.
- CEO Niraj Shah said the company is expected to continue to “still take market share well”.
Wayfair(wStocks fell after the company reported a greater adjustment loss in the fourth quarter than analysts expected.
Furniture retailers reported revenue of $3.1 billion, up less than 1% year-on-year, and beat the analyst consensus tracked by Visible Alpha. The U.S. revenue was $2.74 billion, which is also the highest expected expectation. However, the company has released broader adjustments than expected Loss per share Of the 25 cents, active customers fell by about 5% to 21.4 million cents, and there is no estimate.
In the company’s earnings call, Wayfair expects revenue to remain flat in the first quarter or to fall from $2.7 billion a year ago. but CEO Niraj Shah said the company is expected to continue to “still be able to take market share well”.
Wayfair shares fell about 3% intraday on Thursday.
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