Wayfair Inc. reported a Q3 profit of 22 cents per share, but sales fell 2% and customers declined.

Wayfair Inc. reported a third-quarter adjusted profit of 22 cents per share, exceeding analysts' expectations. However, sales fell 2% to $2.884 billion, and the active customer base declined by 2.7%. The company narrowed its net loss significantly year-over-year and reduced operating expenses. CEO Niraj Shah emphasized initiatives like the new Wayfair Rewards program to enhance customer loyalty. The company plans layoffs, closing a returns center and outlet by 2025.

November 01, 2024
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