Wayfair (W) Tops Q3 EPS by 5c
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Wayfair (NYSE: W) reported Q3 EPS of ($0.54), $0.05 better than the analyst estimate of ($0.59). Revenue for the quarter came in at $861.5 million versus the consensus estimate of $849.42 million.
Direct Retail revenue, consisting of sales generated primarily through the sites of Wayfair’s five brands, increased $287.4 million to $832.4 million, up 52.7% year over year.
"We are very pleased to report yet another strong quarter of rapid growth as we continue to gain significant market share. Overall, our business grew Q3 net revenue by 45 percent year over year and our Direct Retail business was up 53 percent year over year," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. "With a core focus on enhancing the retail experience for our customers through technology, innovation, and inspiring merchandising, we are rapidly redefining the way people shop for their homes. From augmented and virtual reality solutions to a brand new wedding registry experience, we are applying cutting-edge technologies to traditional retail challenges to make our e-commerce experience the preferred way to shop for furniture, décor, home improvement products, seasonal décor and more. At the same time, we are making tremendous strides to further optimize our logistics network and merchandising efforts in ways that directly and uniquely benefit our customer. We are excited to enter the holiday season with our strongest offering ever - and remain very enthusiastic about our long term growth and profit potential."
For earnings history and earnings-related data on Wayfair (W) click here.
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