Niraj Shah, CEO, Wayfair
Ashlee Espinal | CNBC
Wayfair on Thursday reported quarterly sales that fell short of analysts’ expectations. Though the online furniture retailer gained more customers during the period, they bought smaller, less-expensive items, dragging down average order values.
Shares initially tumbled more than 7% in premarket trading, as investors feared the pandemic boost that the company has seen, with more people investing in their homes, could be fading.
But management quelled those fears during a conference call, citing continued optimism in the home category and new pockets of growth. Shares recouped losses and rose 8% in early trading.
Here’s how Wayfair did during its…