1 Bold Prediction From Wayfair's CEO
Wayfair (NYSE: W) stock saw a nice bounce after the company reported another quarter of profitable growth. Revenue surged 49% year over year in the first quarter. But starting next quarter, Wayfair will be up against more difficult growth comparisons as revenue soared 84% last year in the early months of the pandemic. It will be very challenging to beat that performance in the current quarter.
Despite the expectation for lower growth in 2021, investors are feeling upbeat about Wayfair's prospects. During the first-quarter earnings call, CEO Niraj Shah made a bold prediction that the pandemic will fundamentally change the amount that consumers will spend online for home goods.
Here's why Shah is right and what it means for Wayfair's future.
Source Fool.com
