Boston -- Online home furnishings retailer Wayfair is losing less money than before and gaining new customers at a rapid pace.
The retailer reported a loss of $19.3 million for the second quarter, ended June 30, down from a loss of $28 million, in the year-ago period.
Revenue increased to $491.8 million, up 66.4% year over year. Direct retail revenue, consisting of sales generated primarily through the sites of Wayfair’s five brands, increased to $440.3 million, up 80.8% year over year.