USA - Wayfair, a leading ecommerce furniture and home furnishings retailer, reported first-quarter sales revenue of USD 3.5 billion which is up 49.2% from the first quarter of 2020.

With a gross profit of USD1 billion or 28.8% of total revenue for the quarter ending Mar. 31. The number of active customers reached 33.2 million as of March 31, 2021, an increase of 57.3% year over year

“Wayfair’s focus remains squarely on connecting all of the industry’s customers and suppliers on our unique platform, which is custom-built to address the specific needs of shopping for the home. Our platform model creates a flywheel where scale begets growth, which leads to further efficiency. We see this in action each quarter, and Q1 was no exception,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “We grew to USD 3.5 billion dollars in net revenue in the quarter, having added more than USD 1 billion dollars to the top-line year-over-year, and generated over USD 200 hundred million dollars in adjusted EBITDA -- all while simultaneously and ambitiously investing for the future. We are confident that customers will remain focused on their homes even as the environment normalizes in the US and Europe, and that our strong profitability should not only continue but expand.”

Wayfair generated USD 15.3 billion in net sales revenue for the twelve months ended March 31, 2021. Headquartered in Boston, Massachusetts with operations throughout North America and Europe, Wayfair employs more than 16,200 people.