Wayfair’s loss widens in Q1
Despite an increase in active shoppers and higher spending among repeat customers, Wayfair’s loss deepened during the first quarter of 2018.
For the quarter ended March 31, Wayfair reported a net loss of $107.8 million, compared to $56.5 million for the same period last year. This also equated to a loss per share of $0.91, compared to $0.46 in the first quarter of 2017.
The retailer’s net revenue soared to $1.4 billion, a 48% increase from $960.83 million a year ago. The company also had 11.8 million active customers in the quarter, a 33% increase over last year.
And their purchases were also on the rise. Orders per customer increased to 1.79 for the quarter from 1.73 last year. Repeat customers placed 3.8 million orders, an increase of 48.9% year-over-year. These customers were responsible for 64.3% of total orders for the quarter, compared to 60.4% in the first quarter of 2017.
Average order value was $236, compared to $223 for the same quarter last year.
"Our direct retail business continues to grow at a strong rate, both in the U.S. and internationally,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “As our customers benefit from the investments we have been making across our business, [they] reward us with their loyalty and spending.”
For the quarter ended March 31, Wayfair reported a net loss of $107.8 million, compared to $56.5 million for the same period last year. This also equated to a loss per share of $0.91, compared to $0.46 in the first quarter of 2017.
The retailer’s net revenue soared to $1.4 billion, a 48% increase from $960.83 million a year ago. The company also had 11.8 million active customers in the quarter, a 33% increase over last year.
And their purchases were also on the rise. Orders per customer increased to 1.79 for the quarter from 1.73 last year. Repeat customers placed 3.8 million orders, an increase of 48.9% year-over-year. These customers were responsible for 64.3% of total orders for the quarter, compared to 60.4% in the first quarter of 2017.
Average order value was $236, compared to $223 for the same quarter last year.
"Our direct retail business continues to grow at a strong rate, both in the U.S. and internationally,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “As our customers benefit from the investments we have been making across our business, [they] reward us with their loyalty and spending.”