Wayfair ( (W) ) has released its Q3 earnings. Here is a breakdown of the information Wayfair presented to its investors.
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Wayfair Inc., a leading online retailer specializing in home goods and furnishings, recently released its financial results for the third quarter of 2024, showcasing its resilience in a challenging market environment.
In the third quarter of 2024, Wayfair reported a total net revenue of $2.9 billion, a slight decrease of 2% compared to the previous year. The company’s gross profit stood at $873 million, accounting for 30.3% of total net revenue. Although the company experienced a net loss of $74 million, it achieved a Non-GAAP Adjusted EBITDA of $119 million, reflecting a mid-single-digit Adjusted EBITDA margin for the second consecutive quarter.
The quarter’s highlights include a continued focus on cost discipline and market share gains despite a dynamic consumer environment. Active customers totaled 21.7 million, a decrease of 2.7% year over year, with an increase in repeat customers placing 79.9% of total orders. The average order value grew to $310, up from $297 in the same period last year, indicating a positive trend in customer purchasing behavior.
Looking forward, Wayfair’s management remains committed to achieving healthy profitability and fostering customer loyalty. The company aims to build long-lasting customer relationships that will drive both top and bottom-line growth as the market rebounds, indicating a strategic focus on sustainable growth and economic value creation.
