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Nov. 4, 2021, 7:29 a.m. EDT

Wayfair shares sink after revenue miss

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By Tonya Garcia
W SPX

Wayfair Inc. /zigman2/quotes/201071690/composite W -5.32% shares dropped 5.2% in Thursday premarket trading after the online home goods seller swung to a third-quarter loss and reported revenue that missed expectations. Net losses totaled $78.0 million, or 75 cents per share, after net income of $173.2 million, or $1.67 per share, last year. Adjusted EPS of 14 cents beat the FactSet consensus for a penny per share. Revenue of $3.121 billion was down from $3.839 billion and below the FactSet consensus of $3.238 billion. "As various geographies reopened post-pandemic, consumers naturally shifted some spend towards travel and entertainment and from e-commerce towards brick and mortar," said Chief Executive Niraj Shah in a statement. "Demand and interest in the home remains resilient, but it will take a few more quarters for our growth - and e-commerce growth in general - to get back to normal." Active customers rose to 29.2 million from 28.8 million. And average order value was up to $283 from $243 last year. Wayfair brands include the namesake, Joss & Main, and AllModern. Wayfair stock has gained 19% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.84% is up 24% for the period.

/zigman2/quotes/201071690/composite
US : U.S.: NYSE
$ 162.33
-9.13 -5.32%
Volume: 2.19M
Jan. 18, 2022 4:01p
P/E Ratio
208.97
Dividend Yield
N/A
Market Cap
$17.93 billion
Rev. per Employee
$876,261
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/zigman2/quotes/210599714/realtime
US : S&P US
4,577.11
-85.74 -1.84%
Volume: 2.74B
Jan. 18, 2022 4:56p
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