Wayfair Trims Q2 Loss as Revenues Jump 42.7%

August 8, 2017  by Larry Thomas in Economic News, Industry   

The most recent quarterly loss, which equals 45 cents per share, was below the loss of $48.3 million or 57 cents per share in last year’s second quarter.

Revenue totaled $1.12 billion, up from $786.9 million in the same quarter last year.

The retailer said the number of active customers totaled 9.5 million, a year-over-year increase of 43.1%, and the average order value was $258, which was unchanged from the second quarter of 2016.

The company also noted that repeat customers placed 61.3% of total orders, and said 44.1% of the orders delivered by its direct retail business were placed from mobile device. In last year’s second quarter, 38.4% of the orders came from a mobile device.

Gross margin was 24% in the most recent quarter, essentially even with last year’s second quarter.

"We are pleased to report yet another exceptional quarter with strong momentum in revenue growth and profitability," said Niraj Shah, CEO, co-founder and co-chairman. "As consumers increasingly embrace the selection and convenience of shopping online instead of in physical brick and mortar stores, we are taking advantage of that shift and capturing market share by offering a truly differentiated, customer-centric shopping experience.”

For the first six months of 2017, revenues totaled $2.08 billion, an increase of 35.8% from $1.53 billion in the first half of 2016.

The six-month net loss totaled $95.4 million or $1.10 per share. That was up from a loss of $89.5 million or $1.06 per share in the first half of last year.

In addition to its flagship Wayfair site, the retailer’s family of websites includes Joss & Main, AllModern, Dwell Studio and Birch Lane.