Wayfair Says Sales Trends Spiked in Late March
Wayfair (NYSE: W) issued a sales update on Monday that contained mostly good news for investors. The e-commerce specialist noted a sharp demand increase as consumers hunkered down in their homes in late March, even as it prepared for a potentially tough economic time ahead.
Wayfair, which specializes in selling home furnishings online, said sales growth more than doubled from its prior rate in late March and into April. That description suggests revenue rose nearly 40% in recent weeks. "Wayfair's model is uniquely suited to serving customers' very real needs at this challenging time," CEO Niraj Shah said in a press release.
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Source Fool.com
