(Updated - August 4, 2026 8:55 AM EDT)

• Wayfair said on its call "Let's now turn to guidance for the third quarter. Beginning with the top line, we would guide you to high single digit growth for Q3. We're excited to see our trajectory on share strength continue on the back of our wide array of growth initiatives and the strength of our core recipe. Turning to gross margin, we will continue to use a range of 29.5 to 30.5% of net revenue.

  We would expect to end up at the lower end of the guidance range for Q3 as we continue to invest in the customer experience, including in the loyalty program. This investment should be matched almost one for one by savings on the advertising line. To that end, customer service and merchant fees should be just below 4% and advertising should be in a 10.5 to 11.5% range. Also, at the low end, the net of this should be a contribution margin that is in line with, or slightly better than what we just delivered in Q2.

  SG&A is expected to continue to hold in the 360 to $370 million range. Working your way down the PNL. This guidance suggests a third quarter adjusted EBITDA margin in the 6 to 7% of net revenue range. "