The Wayfair website.
Dreamstime
Wayfair stock fell 10% in premarket trading after the company reported worse-than-expected losses, and a sharp year-over-year decline in orders, in its fiscal fourth quarter.
The online home furnisher reported $3.3 billion in revenue for the quarter ending Dec. 31, down $419 million, or 11.4%, year over year. Revenue met the FactSet consensus expectation of $3.3 billion, but the diluted loss per share was $1.92, more than double the 70 cents analysts were expecting.
Wayfair turned in a net loss of $202 million, while adjusted earnings before interest, taxes, depreciation and amortization showed a loss of $4 million.
Wayfair also said orders delivered in the fourth quarter of 2021 were 12.1 million, a decrease of 26.7% year over year. The company didn’t provide an outlook for fiscal year 2022.
Wayfair also wrote a letter to shareholders Thursday morning outlining its strategic plans to improve digital and logistics operations.
This is a developing story. Check back for updates.
Write to Logan Moore at [email protected].
