Wayfair sinks after posting a bigger-than-expected loss

Niraj Shah, co-founder of WayfairScott Olson / Getty Images

  • Wayfair shares fell 6% early Thursday after the online retailer's first-quarter loss came in wider than Wall Street expected.
  • Wayfair said it had 16.4 million active customers, a 39% jump from the same time last year.
  • Shares remain within striking distance of their all-time high set in March.
  • Watch Wayfair trade live.

Wayfair, the online home-goods retailer, reported a wider-than-expected loss in its first quarter, sending shares down by nearly 6% early Thursday.

"Our ongoing investments in building our logistics infrastructure, deepening our product offering, and finding new ways to serve our customer are just a few of the many areas that are driving the momentum we are seeing today," CEO and co-founder Niraj Shah said in the release.

Here's what Wayfair reported, compared with what analysts surveyed by Bloomberg were expecting:
  • Revenue: $1.95 billion versus $1.92 billion expected.
  • Adjusted loss per share: $1.62 versus $1.60 expected.
  • Adjusted net income: -$147.96 million versus $146.73 million.

Despite the company's quarterly loss, there were some bright spots in the results.

Wayfair said it had 16.4 million active customers in the first quarter, representing a 39% jump from the same period last year. Meanwhile the average order's price tag was $237, a $1 increase versus a year ago.

Notably, the company reported 53.4% of total orders from Wayfair's direct retail business were placed on a mobile device, up from 49.2% in the first quarter of 2018.

Wayfair shares have soared 81% so far this year, hitting an all-time high of $173.72 apiece in March. As of the close on Wednesday, the stock was about 6% below that level.

Now read more markets coverage from Markets Insider and Business Insider:

Tesla unveils plan to raise about $2 billion

A $369 billion investor lays out how the private-equity boom is supercharging a major risk in the stock market

Get ready for an IPO bonanza. These 16 companies are set to go public in the next 9 days.

{{}}
Add Comment()
Comments ()
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.