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 ...

Wayfair (NYSE:W) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsEric Sheridan - Managing DirectorJohn Blackledge - Managing DirectorKate Gulliver - CFONiraj Shah - CEORyan Barney - Senior Manager of Investor RelationsSteve Forbes - Senior Managing DirectorZachary Fadem - Managing DirectorConference Call ParticipantsBrian Nagel - Senior AnalystSimeon Gutman - Research AnalystOperatorHello, everyone. Thank you for joining us, and welcome to the Wayfair Q4 2025 earnings release and con ...

Core Insights - Wayfair's shares increased by 8.8% following the appointment of Hal Lawton to its board and a price target raise by RBC Capital [1][2] - RBC Capital raised Wayfair's price target from $51 to $86, reflecting confidence in the company's performance after an 8.1% increase in net sales for Q3 [2] - Wayfair plans to open a new smaller-format store in Columbus, Ohio, in late 2026 to explore a different retail model [2] Market Reaction - The stock's volatility is notable, with 45 moves greater than 5% in the past year, indicating that while the market views this news as significant, it does not fundamentally alter the perception of the business [4] - The previous significant stock movement occurred 11 days prior, when JPMorgan raised its price target from $82 to $105, citing positive indicators ahead of Q3 earnings [5] Performance Metrics - Year-to-date, Wayfair's stock has risen by 132%, reaching a new 52-week high at $106.88 per share [6] - An investment of $1,000 in Wayfair shares five years ago would now be valued at $454.17, highlighting the stock's long-term performance challenges [6]

Core Insights - Wayfair reported a third-quarter revenue increase of 8.1% year-over-year, surpassing Wall Street expectations [1][2] - The company experienced a net loss of $99 million, or 76 cents per share, compared to a loss of $74 million, or 60 cents per share, in the previous year [2] - U.S. revenue rose 8.6% year-over-year to $2.7 billion, while international revenue increased 4.6% to $389 million [2] Financial Performance - Adjusted earnings per share were 70 cents, exceeding the expected 43 cents [6] - Total revenue reached $3.12 billion, compared to the expected $3.02 billion [6] - The company's delivered orders grew by 5% year-over-year [5] Strategic Initiatives - CFO Kate Gulliver attributed growth to market share gains rather than macroeconomic factors [3] - Key initiatives driving growth include improvements in pricing, product availability, speed, loyalty programs, site enhancements, and physical retail [4] - The company reported a 6.7% Adjusted EBITDA margin, the highest outside of the pandemic period, indicating strong profitability flow through [5] Customer Metrics - Active customers totaled 21.2 million at the end of the quarter, reflecting a 2.3% decrease year-over-year [5]