Shares of Wayfair Inc. climbed 1.5% in premarket trading this Thursday, bouncing off a three-month closing low from the previous session.
Fourth-Quarter Report Highlights
The online home-furnishings retailer reported a narrower-than-expected fourth-quarter loss, with net losses shrinking to $174 million, or $1.49 a share, compared to $351 million, or $3.26 a share, in the previous year. Excluding one-time items, such as equity-based compensation costs, the adjusted per-share loss of 11 cents surpassed the FactSet consensus of 15 cents.
Positive Growth
Revenue showed a growth of 0.4% to $3.114 billion, slightly above the FactSet consensus of $3.106 billion. Active customers as of December 31st increased by 1.4% to 22.4 million, while net revenue per active customer over the last 12 months dropped by 2.9% to $537. The average order value also decreased by 2.5% to $276.
CEO’s Optimistic Statement
Chief Executive Niraj Shah noted the company’s “robust” share expansion in 2023 and a noticeable improvement in customer loyalty.
Stock Performance
Year-to-date, Wayfair Inc.’s stock has experienced a decline of 20.9% until Wednesday, contrasting with the S&P 500 which gained 4.4%.