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Wayfair’s sales slid during its first quarter, but the online furniture retailer reduced its losses after cutting 13% of its workforce at the start of the year, the company announced Thursday.
Wayfair beat Wall Street’s expectations on the top and bottom lines and saw active customers grow nearly 3% compared with the year-ago period.
Here’s how Wayfair did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Loss per share: 32 cents adjusted vs. a loss of 44 cents expected
- Revenue: $2.73 billion vs. $2.64 billion expected
Wayfair shares closed more than 16% higher Thursday.
The company’s reported net loss for the three-month period that ended March 31 was…
Source cnbc.com
