Why Wayfair Stock Crashed Today
Wayfair (NYSE: W) was trading down 19.5% as of 12:21 p.m. ET on Thursday after reporting first-quarter earnings results.
Wayfair has struggled to maintain revenue growth following the rush of online orders during 2020. Revenue fell 13.9% year over year, following a 4% decline in revenue in 2021. Wayfair missed on earnings estimates, with adjusted loss per share coming in at $1.96, a wider loss than the $1.54 analysts expected.
One trend that needs to reverse is the decline in active customers. The active customer count stood at 25.4 million, down 23% year over year. On the bright side, spending per active customer continued to show strength, up 12.8% over the year-ago quarter.
Source Fool.com
