Wayfair Has a New Profit Outlook
Wayfair (NYSE: W) just ended a fiscal year that included some head-turning records for the business. It added millions of new customers in 2020, handled surging volumes, and generated a net profit for the first time as a public business.
The fourth-quarter results give the home furnishings giant solid momentum in early 2021, which should continue to be affected by COVID-19-related demand boosts. But Wayfair's updated long-term outlook implies that management believes some of the most supportive industry trends will continue long into the future.
Sales gains slowed for the second straight quarter but remained impressive. Revenue rose 45%, a bit slower than many investors had expected. The company still easily outpaced the industry by adding $5 billion to its annual sales base, or a blistering 55% growth rate, in 2020.
Source Fool.com
