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From Home Furnishing Business

Wayfair Q3 Revenue Jumps 39%, but Loss Widens

Online powerhouse Wayfair (NYSE: W) said third-quarter revenue jumped more than 39% to $1.2 billion, but its net loss widened to $76.4 million or 88 cents per share.

The company said the revenue growth shows that Wayfair is continuing to gain market share in the e-commerce segment “as customers embrace our exceptional shopping experience.”

Wayfair said the number of active customers reached 10.3 million on Sept. 30, an increase of 39.2% from a year earlier. The average order value was $250, up from $244 in last year’s third quarter, and the company said repeat customers placed 61% of total orders during the quarter.

"We are very pleased with the company’s strong growth and momentum as we continue to reinforce our position as a clear online leader in the massive home category," said Niraj Shah, CEO, co-founder and co-chairman of Wayfair. “Through significant advancements across our supply chain network, we are now able to promise our customers a more seamless shopping experience and even faster delivery times for millions of products.”

He said the majority of large parcel orders for items such as sofas, dining tables, bathroom vanities and chandeliers now flow through the company-controlled Wayfair Delivery Network, “which means we can ensure a flawless experience from start to finish for even the largest and heaviest products.”

For the first nine months of 2017, revenue rose 37% to $3.28 billion. The nine-month net loss totaled $171.8 million or $1.98 per share. In the first nine months of last year, the loss totaled $150.4 million or $1.77 per share.

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