Wayfair losses narrow but sales come in short of expectations as demand remains tepid
Publishing timestamp: 2023-11-01 12:13:58
Summary
Wayfair's losses narrowed during the third quarter, but its sales were slightly lower than expected. The company has been focusing on cost discipline to drive profitability and protect margins. Average order values have decreased due to lower freight and raw material costs, which Wayfair has passed on to customers. While the company's active customer count dropped year over year, it has increased on a quarter-over-quarter basis. Wayfair remains committed to its profitability goals despite challenges in the home goods market.
Sentiment: MIXED
Tickers: W,
Keywords: breaking news: earnings, earnings, business, business news, wayfair inc, retail industry, breaking news: business,
Source: https://www.cnbc.com/2023/11/01/wayfair-w-earnings-report-q3-2023.html