Wayfair (W) Announces 52% Rise in Direct Retail Sales for Holiday Shopping Weekend
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Wayfair, Inc. (NYSE: W), one of the world’s largest online destinations for home furnishings and décor, today reported a 52 percent increase year over year in direct retail gross sales, defined as dollars of order intake, for the five-day peak shopping period of Thanksgiving Day through Cyber Monday. The growth rate of total company gross sales was 46 percent year over year during the same period. The company experienced its strongest sales day ever on Cyber Monday with peak order volume between 9 p.m. and 12 a.m. ET. Repeat customers accounted for 58 percent of holiday sales and Wayfair’s popular mobile app made it quick and convenient for shoppers to make purchases on the go.
“The holiday shopping weekend is always a busy time for Wayfair, as our customers take advantage of outstanding deals on furnishings and décor across the site,” said Niraj Shah, CEO, co-founder and co-chairman of Wayfair. “In addition to shopping for seasonal items, our customers are also preparing their homes for holiday entertaining and hosting guests, buying across a wide range of categories covering all things home. Wayfair is delighted to be the trusted retail destination that helps shoppers find just what they need for their homes every day of the year. We look forward to exceeding our customers’ expectations during the holiday season and beyond.”
In advance of the 2016 holiday season, Wayfair expanded its selection of seasonal décor to include thousands of unique items including more than 9,000 ornaments, 3,500 Christmas trees, and thousands of wreaths, garlands and other holiday items. Additionally, Wayfair introduced a 5 for $25 Ornament Shop, with free two-day shipping, allowing customers to create customized ornament bundles. Other top selling holiday items included storage and organization items for post-holiday clean-up.
Beyond seasonal products, TV stands were top sellers this holiday weekend with the single most popular TV stand selling every 19 seconds on Cyber Monday. Other categories that experienced strong growth this year included rugs, mattresses and outdoor furnishings. On Cyber Monday, Wayfair sold a rug every 4 seconds and a mattress every 12 seconds.
To shop these and other items from Wayfair’s vast selection of 7 million home furnishings and décor, go to www.wayfair.com.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PICO Holdings (PICO) Announces Leadership, Governance Changes; Terminates Central Square Agreement
- Innoviva (INVA), GlaxoSmithKline (GSK) Receive Approval in Japan for Relvar Ellipta as COPD Treatment
- Teleflex (TFX) to Acquire Vascular Solutions (VASC) in $1B Deal
Create E-mail Alert Related CategoriesCorporate News, Guidance, Management Comments, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!