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From Home Furnishing Business

Wayfair Reports 90.9% Retail Revenue Growth in 3Q

Boston-based Wayfair (NYSE: W) has reported its financial results for its third quarter ended Sept. 30.

Wayfair’s direct retail revenue, consisting of sales generated primarily through websites of its five brands – including, Joss & Main, AllModern, DwellStudio and Birch Lane – increased to $545 million, up 90.9 percent year over year. Its number of active customers in its direct retail business reached 4.6 million as of Sept. 30, up 60.6 percent year over year.   

“New customer growth and repeat customer growth continue to accelerate at a phenomenal pace as we enhance our offering and build greater brand awareness with consumers,” said Niraj Shah, CEO, co-founder and co-chairman of Wayfair. 

The online home furnishings retailer’s total net revenue increased to $594 million, up 76.7 percent year over year.

Shah says Wayfair is well positioned to enter the holiday season with key improvements across assortment, merchandising and marketing. 

“[We] look forward to further building our leadership position as the number one destination for home furnishings and décor,” Shah said.  

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