Wayfair’s shares are plunging after its chief executive said on an earnings call that demand for household goods is at the level of the “financial crisis.”The struggling online furnishings giant reported second quarter earnings on Thursday that missed Wall Street’s expectations on both the top and bottom, sending its shares down by more than 11%. 3 Home furnishings giant Wayfair is trying to lure customers back with discounts. Wayfair.com“Our credit card data suggests that the category correction now mirr ...

Wayfair Inc. (NYSE:W) Q2 2024 Earnings Conference Call August 1, 2024 8:00 AM ET Company Participants James Lamb - Head of Investor Relations Niraj Shah - Chief Executive Officer, Co-Chairman & Co-Founder Steve Conine - Co-Chairman & Co-Founder Kate Gulliver - Chief Financial Officer & Chief Administrative Officer Conference Call Participants Christopher Horvers - JPMorgan Peter Keith - Piper Sandler Curtis Nagle - Bank of America Simeon Gutman - Morgan Stanley Maria Ripps - Canaccord Genuity Steven Forbes ...

Wayfair saw its quarterly sales dip amid continued pressure on home goods consumers.“Customers remain cautious in their spending on the home, and our credit card data suggests that the category correction now mirrors the magnitude of the peak to trough decline the home furnishing space experienced during the great financial crisis,” Wayfair Co-founder, Co-chairman and CEO Niraj Shah said in a Thursday (Aug. 1) news release.The company’s second-quarter earnings showed total revenues dipping 1.7%, with U.S. r ...

Wayfair (W) reported $3.12 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.7%. EPS of $0.47 for the same period compares to $0.21 a year ago.The reported revenue represents a surprise of -1.99% over the Zacks Consensus Estimate of $3.18 billion. With the consensus EPS estimate being $0.50, the EPS surprise was -6.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Wayfair (W) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6%. A quarter ago, it was expected that this online home goods retailer would post a loss of $0.45 per share when it actually produced a loss of $0.32, delivering a surprise of 28.89%.Over the last four quarters, the company ...

Exhibit 99.1 Wayfair Announces Second Quarter 2024 Results, Reports Best Quarter of Profitability and Cash Flow in Three Years Q2 Net Revenue of $3.1 billion with 22.0 million Active Customers BOSTON, MA — August 1, 2024 — Wayfair Inc. ("Wayfair," "we," or "our") (NYSE: W), one of the world's largest destinations for the home, today reported financial results for its second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights • Total net revenue of $3.1 billion, decreased $54 million, down ...

The first Wayfair brick-and-mortar store prepares to open on May 02, 2024 in Wilmette, Illinois.Online home goods company Wayfair saw sales decline in its fiscal second quarter as its CEO likened the current slowdown in the home goods category to the 2008 financial crisis."Our credit card data suggests that the category correction now mirrors the magnitude of the peak to trough decline the home furnishing space experienced during the great financial crisis," Wayfair CEO Niraj Shah said in a news release. "C ...

Q2 Net Revenue of $3.1 billion with 22.0 million Active CustomersBOSTON, Aug. 1, 2024 /PRNewswire/ -- Wayfair Inc. ("Wayfair," "we," or "our") (NYSE: W), one of the world's largest destinations for the home, today reported financial results for its second quarter ended June 30, 2024.Second Quarter 2024 Financial HighlightsTotal net revenue of $3.1 billion, decreased $54 million, down 1.7% year over yearU.S. net revenue of $2.7 billion, decreased $55 million, down 2.0% year over yearInternational net revenue ...

Analysts on Wall Street project that Wayfair (W) will announce quarterly earnings of $0.50 per share in its forthcoming report, representing an increase of 138.1% year over year. Revenues are projected to reach $3.18 billion, increasing 0.3% from the same quarter last year.The current level reflects a downward revision of 1.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over ...

This week, there's been a great deal of focus on Amazon (NASDAQ:AMZN) as it held its Prime Day event from July 16-17. Now, online furniture retailer Wayfair (NASDAQ:W) is getting in on the summer shopping extravaganza. Specifically, the firm will be holding a four-day Black Friday-style shopping event from July 26- 29. The event could increase investors' focus on Wayfair stock in the next few weeks. Wayfair's Black Friday in July Event Starting July 26 at midnight, consumers who visit Wayfair.com will see d ...