Wayfair Inc. Q4 2025 Earnings Call Summary

Performance was characterized by top-line growth and market share capture that overwhelmed a category-wide contraction in the low single digits. Growth was evenly split between order volume and average order value (AOV) expansion, driven by three consecutive quarters of new customer growth. The physical retail strategy aims to increase share of wallet by showcasing the breadth of the catalog, particularly in frequency categories like bedding and decor. Management attributes share gains to a 'core re ...