USA – Wayfair Inc, one of the world’s largest online home furniture retailers, disclosed its first-quarter financial results for 2024 (1Q-2024), revealing mixed outcomes with a slight revenue decline and a significant net loss.

For the 1Q-2024, Wayfair reported net sales of USD 2.7 billion, a 1.6% decrease year-over-year, aligning closely with analyst expectations of USD 2.63 billion.

Despite stable revenue, the company faced a substantial net loss of USD 248 million, far exceeding the anticipated loss of USD 58.22 million.

“The first quarter ended on an upswing,” said Niraj Shah, CEO, co-founder, and co-chairman of Wayfair. “Our revenue was down just under 2% year-over-year for Q1, marking our sixth consecutive quarter of market share gains. Shoppers are increasingly choosing Wayfair, with year-over-year active customer growth once again positive and accelerating compared to last quarter.”