Wayfair Reports Strongest Quarterly Sales Growth Since Pandemic Amid Sluggish Housing Market
Wayfair posted double‑digit revenue growth in the U.S. and turned a profit in the quarter ending September 30.
Wayfair said it achieved its strongest quarter of sales growth since the pandemic, signaling momentum as it captures market share in a flat U.S. furniture market.
The online retailer reported U.S. revenue of about $3 billion, an 11.4% increase from the prior year. International net revenue fell 2.3% year over year to $380 million.
Total revenue for the quarter grew 9.7% to $3.42 billion. Net income was $62 million, or 45 cents per share, compared with a loss of $99 million, or 76 cents per share, a year earlier.
Active customers rose 4.7% to 22.2 million, and orders delivered climbed 12.2% to about 11 million.
CFO Kate Gulliver told CNBC that the company’s market‑share momentum is continuing as the overall U.S. consumer category remains roughly flat. She credited shopper loyalty, new stores, the luxury furniture line and a focus on value for attracting more consumers.
Gulliver said promotional activity this year is consistent with last year, maintaining momentum.
Looking ahead to the holiday season and the fourth quarter, the company plans to keep promotional activity similar to the prior year and remains confident its price and product range will appeal to a broad base of consumers.
Wayfair’s latest results underscore its ability to grow profitably even as the broader housing market stays sluggish.
