Wayfair Stock Declines as Online Home Furnisher Loses Customers

Core Insights - Wayfair's third-quarter adjusted profit exceeded analysts' expectations, but the company experienced a decline in customer numbers and orders delivered [1][2] - The company reported adjusted earnings per share (EPS) of $0.22, nearly double the forecast, while revenue fell 2% year-over-year to $2.88 billion [1][2] - CEO Niraj Shah acknowledged ongoing challenges in the market, despite the company managing to grow its market share [3] Customer Metrics - Active customers decreased by 3% to 21.7 million, and orders delivered fell by 6% to 9.3 million [2] - Repeat customers placed 7.4 million orders, also down 6% [2] - Revenue per customer increased by 1% to $545, and the average order value rose by $13 to $310 [2] Financial Performance - The adjusted EBITDA margin was reported at 4% [1] - Operating expenses were reduced by 11% to $947 million [2] - Despite initial gains in premarket trading, Wayfair's shares fell by 1% and have lost a third of their value this year [3]