Wayfair's third-quarter performance fell short of expectations! Net loss of $78 million!

It is learned that Wayfair, the largest furniture e-commerce platform in the United States, released its third-quarter financial report, which fell short of expectations. The following is a summary of the financial report:

• Third-quarter revenue fell 18.7% year-over-year to $3.1 billion, below the forecast of $3.2 billion.

• Revenue from the U.S. market fell 20.8% year-on-year to $2.6 billion.

• International market revenue decreased 6.8% year-on-year to US$500 million.

• Profits were $882.7 million, or 28.3% of revenue.

• Net loss was $78 million and non-GAAP adjusted EBITDA was $101.1 million. Net income was $173 million in the same period last year.

• Active customers increased 1.5% year-over-year to 29.2 million.

• Order volume fell 30.1% year-on-year to 11 million, with 57.7% of orders coming from mobile devices, compared with 60.0% in the same period last year.

• The number of repeat customer orders fell 25.8% year-on-year to 8.4 million.

• Repeat customer orders accounted for 76.3% of total orders, compared with only 71.9% in the same period last year.

• The average order value was $283, compared to $243 in the same period last year.

• The average number of orders placed by buyers was 1.92, compared with 1.94 in the same period last year.

Wayfair CEO Niraj Shah said that as the epidemic is under control, consumers will shift their spending to travel and entertainment and return to physical stores from e-commerce. Demand and interest in home goods and furniture remain resilient, but our growth, and the growth of e-commerce as a whole, will take several quarters to return to normal. It is understood that Wayfair is currently dealing with challenges such as supply chain issues and related inflation.

Editor ✎ Estella/eBay123

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