Market Updates
Wayfair Swings to Quarterly Loss, Orders Plunge 33%
Scott Peters
05 May, 2022
New York City
Wayfair Inc, the online home furnishing platform reported March quarter total net revenues declined 13.9% to $3.0 billion and the U.S. net revenues fell 9.9% to $2.5 billion.
The company also reported a quarterly loss of $319 million compared to $18 million a year ago.
International revenues fell 31.4% to $500 million and the decline in constant currency was 29.6%.
Revenues per customer in the last 12 months increased 12.8% to $520 and order per customer decreased to 1.87 from 1.98 in the period ending in the first quarter 2021.
Number of active subscribers fell 23.4% to 25,6 million and orders delivered plunged 33% to 10 million from a year ago.
Average order increased 21% to $287 from $237 a year ago and about 60% of all orders were placed using mobile
Wayfair Inc is headquartered in Boston, Massachusetts and employs about 18,000 people.
Wayfair stock fell 24.25% to $68.73 and has fallen 65% in the year so far.
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