From Home Furnishing Business
Wayfair Narrows Loss on Sales Increase
Home furnishings e-commerce retailer Wayfair (NYSE: W) posted a net loss of $15.5 million for the fourth quarter ended Dec. 31 compared to a net loss of $72.6 million in the same quarter last year.
Fourth quarter net sales were $739.8 million an 81 percent increase over net sales of $408.6 million in the fourth quarter last year.
The retailer reported a year-end loss of $77.4 million for fiscal 2015 compared to a net loss of $148.1 million in the prior year. Net sales for the year were $2.25 billion, a 70.6 percent increase from $1.32 billion in 2014.
“We are excited to report an incredibly strong fourth quarter and tremendous overall growth for Wayfair in 2015 with the business reaching $2.25 billion in full year net revenues,” said Niraj Shah, CEO, co-founder and co-chairman. “We continue to grow both our new customer base and our repeat business with an exceptional shopping experience that redefines what is possible in home retail. We remain firmly focused on delighting our customers as we continue to innovate and raise the bar in terms of selection, service and design inspiration. We look forward to making great strides in 2016 as we continue to build the Wayfair brand in the United States and ramp up our investment in Europe and Canada.”
The retailer said its active customers reached 5.4 million as of Dec. 31, climbing nearly 67 percent over last year. Repeat customers placed 54.3 percent of total orders in the fourth quarter compared to 50.3 percent in the fourth quarter of 2014.
For the year, repeat customers placed 5 million orders, a 92.3 percent increase over last year.
The complete earnings release is available online.