Wayfair Inc. - W STOCK NEWS

Wayfair reported Q1 2022 net revenue of $3.0 billion, a decline of 13.9% year-over-year. Active customers fell to 25.4 million, down 23.4%. U.S. revenue decreased to $2.5 billion (-9.9%), while international revenue dropped to $0.5 billion (-31.4%). Gross profit was $803 million (26.8% margin), and the net loss was $319 million with a diluted loss per share of $3.04. Despite challenges, CEO Niraj Shah expressed confidence in overcoming obstacles and regaining profitability as supply chain issues improve.

Wayfair (NYSE:W) announces the retirement of Michael Fleisher as CFO, effective January 15, 2023. Kate Gulliver, currently the Chief People Officer, will succeed him as CFO and CAO in November 2022. Fleisher, a key figure in Wayfair's growth and IPO, emphasizes a well-planned transition, leaving the company in a strong position. Gulliver has a history with Wayfair, contributing significantly to its investor relations and talent management. Paul Toms will take over as Chief People Officer starting June 1, 2022.

Wayfair (NYSE:W) has launched its fourth annual Dream Classroom Giveaway to celebrate Teacher Appreciation Week 2022. The contest invites nominations for exemplary teachers until May 23, 2022.

The winner will receive a full classroom makeover, including furniture and decor from top education manufacturers, with a design expert from Wayfair Professional guiding the selection process. The winner will be announced by June 13, 2022, and classroom updates will occur in the 2022–2023 school year.

Wayfair Inc. (NYSE:W) has announced the upcoming Way Day, a two-day sales event commencing on April 27 at 12 a.m. ET. Customers can expect discounts of up to 80% off thousands of items across categories including furnishings, decor, and outdoor products, with free shipping on all orders. The sales event will feature flash deals from top brands like Kohler and KitchenAid, as well as exclusive offers on the Wayfair app. New credit card members can receive $40 off their first purchase of at least $100 from April 20 through April 28.

Wayfair Inc. (NYSE: W) will release its financial results for Q1 2022 on May 5, 2022, before market opening. A conference call is scheduled for 8 a.m. ET on the same day to discuss the results. Investors can register for the call and access a live webcast through provided links. In 2021, Wayfair generated $13.7 billion in net revenue and employs over 16,000 people across North America and Europe.

Perigold has announced an exclusive collaboration with Annie Selke to renovate her mid-century home in Palm Desert, California. The project features a complete overhaul, transforming the property into a modern oasis using Perigold’s curated collection of high-quality furnishings from designer brands like Bernhardt and FLOS. Selke's unique design vision is brought to life, showcasing her expertise in creating vibrant spaces. This partnership highlights Perigold's role in providing luxury home products, enhancing its brand recognition within the industry.

Wayfair (NYSE: W) has partnered with Capital One (NYSE: COF) to launch a new credit management platform for its Wayfair Professional members. This program will feature the Wayfair Professional Credit Card and the Wayfair Professional Flex Account, enhancing purchasing power and payment flexibility. The initiative aims to simplify the credit application process for business customers and is expected to roll out later this year. Wayfair's strategy targets growth in its business-to-business segment, building on its existing e-commerce leadership.

Wayfair Inc. (NYSE: W) reported Q4 2021 net revenue of $3.3 billion, a decline of 11.4% year-over-year.

U.S. revenue fell 8.8% to $2.7 billion, while international revenue dropped 23.0% to $517 million. The company registered a net loss of $202 million, with diluted loss per share at $1.92.

Active customers decreased 12.5% to 27.3 million. Despite these challenges, average order value rose to $269, an increase from $223 a year earlier.

Wayfair Inc. (NYSE:W) announced the appointments of Ashwin Rao as Chief Science Officer and Niraj Nagrani as Vice President of Global Supplier Marketplace. Rao, previously with Target, will focus on leveraging machine learning and algorithms to enhance the shopping experience. Nagrani comes from Google, tasked with optimizing the supplier catalog and technology systems. These moves aim to strengthen Wayfair's technological prowess in e-commerce, supporting its mission to enhance customer experience and operational efficiency.