Wayfair Q2 gross margin 30%-31%

Says category showed signs of improvement in late February and March. Says suppliers have diversified to other parts of Asia other than China. Says confident can navigate any pressure from tariffs. Says Q1 will represent a low point for gross margin in 2024. Sees Q2 advertising 11.5%-12.5% of revenue. Sees Q2 adjusted EBITDA margin in mid-single digit range. Sees Q2 cash flow generation considerable. Comments and guidance taken from Q1 earnings conference call.