Wayfair Swings to Loss on Lower International Sales, Despite U.S. Growth

Dow Jones
08/04
 

Wayfair had a mixed second quarter, as its U.S. business grew while international sales fell.

The furniture company on Tuesday swung to a loss of $1 million, or 1 cent a share, from a profit of $15 million, or 11 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 95 cents, ahead of the 90 cents anticipated by analysts, according to FactSet.

Revenue rose 7.5% to $3.52 billion. Analysts surveyed by FactSet had forecast revenue of $3.47 billion.

U.S sales were up 9%, while international revenue fell 1%. Orders gained momentum, climbing 6% during the period, Chief Executive Niraj Shah said. Active customers increased 3%, with a higher average order value.

"We are excited to see ramping growth in the Wayfair business and complementing that with outsized growth from our specialty and luxury brands," he said.

Shares were down 1.9% at $91.00 in pre-market trading.

 
 

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