Wayfair Inc. (NYSE: W) reported its most recent quarterly results before the opening bell on Tuesday. The company posted a net loss of $2.30 per share and $2.3 billion in revenue. Analysts were calling for a net loss of $2.61 per share and $2.31 billion in revenue. The first quarter of last year reportedly had a net loss of $1.62 per share and $1.92 billion in revenue.
The number of active customers in our Direct Retail business reached 21.1 million, an increase of 28.6% year over year. In the trailing 12 months, net revenue per active customer was $449, an increase of 1.6% year over year.
Repeat customers placed 69.8% of total orders in the first quarter of 2020, compared to 66.0% in the first quarter of 2019. Repeat customers placed 6.9 million orders, an increase of 27.9% from last year.
Orders delivered in the first quarter of 2020 were 9.9 million, an increase of 21.0% year over year. The average order value was $235 for the first quarter of 2020, compared to $237 for the first quarter of 2019.
Niraj Shah, CEO, co-founder and co-chair of Wayfair, commented:
The broader market disruption has highlighted the many differentiated advantages we have built as the e-commerce leader in Home over the last two decades. Millions of new shoppers have discovered Wayfair while they shelter in place at home, and we are seeing strong acceleration in new and repeat customer orders across almost all classes of goods and across all regions. In parallel, as we execute on the plans we set in motion late last year, we are making significant strides toward profitability by driving gross margin expansion, increasing marketing efficiencies, and gaining leverage on operating expenses. Our solid internal progress and healthy balance sheet put us in a position of strength in a highly dynamic environment.
Wayfair stock traded up about 25% to $167.70 on Tuesday, in a 52-week range of $21.70 to $181.39. The consensus price target is $87.67.
24/7 Wall St.Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.