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High-income shoppers drive revenue gains at Wayfair
Perigold sales grew more than 35% as higher-income shoppers and specialty brands lifted orders, helping Wayfair beat Wall Street estimates.
- On Tuesday, Wayfair shares soared after the furniture retailer reported Q2 revenue rose 7.5% to $3.5 billion, beating Street estimates of $3.47 billion.
- U.S. net revenue rose 8.7% to $3.1 billion, while CEO Niraj Shah noted Perigold grew by more than 35% during the quarter, driving market share gains.
- Active customers increased 3.3% to 21.7 million, with average order value rising to $332, while Wayfair finished the quarter with $1.1 billion in cash and $301 million in free cash flow.
- Chief Financial Officer Kate Gulliver expects overall revenue to grow in the high-single digits in the third quarter, while the retailer continues expanding brick-and-mortar stores in Chicago and Atlanta.
- Gulliver said the company is "expanding competitive moats and driving durable, highly profitable growth," while Wayfair promotes its $29 annual membership program to engage higher-value shoppers.
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Why Wayfair Stock Popped Today
Key PointsWayfair is growing faster than the overall home goods industry.The company's margins are expanding as customers spend more on its websites.10 stocks we like better than Wayfair › Shares of Wayfair (NYSE: W) soared on Tuesday after the online marketplace for furniture and other home goods delivered its fastest pace of growth since the early stages of the pandemic. Image source: Getty Images.Missed Nvidia in 2009? This Rare Signal Is Fla…
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Wayfair Growth Picks Up as Stores, High-End Goods Draw Shoppers
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
14%
C 72%
14%
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