From Home Furnishing Business
Wayfair Announces 2Q Gains
Boston-based Wayfair (NYSE: W), an online destination for home furnishings and home decor, has reported financial results for its second quarter of 2015, ended June 30.
Total net revenue increased to $491.8 million, up 66.4 percent year over year. Direct retail revenue, consisting of sales generated primarily through the sites of Wayfair’s five brands, increased to $440.3 million, up 80.8 percent year over year.
“As we continue to deliver a truly differentiated retail experience from start to finish, we are seeing tremendous growth and momentum across the business,” said Niraj Shah, CEO, co-founder and co-chairman of Wayfair. “From new, exclusive brand offerings to our ongoing commitment to attentive and knowledgeable customer service, Wayfair is delivering a shopping experience that exceeds customers’ expectations. At the same time, we are benefitting from a strategic shift in our advertising plan that allows us to attract higher value customers with a propensity for repeat purchases. We remain excited about the market opportunity ahead of us.”
The number of active customers in Wayfair’s direct retail business reached 4 million as of June 30, up 53.5 percent year over year. Repeat customers placed 56.6 percent of total orders in the second quarter of 2015, compared to 51.6 percent in the second quarter of 2014. And finally, orders delivered in the second quarter of 2015 were 2 million, an 80.7 percent increase year over year.
The Wayfair family of brands includes Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane.