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.
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.”
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