Wayfair (W) reports Q4 2020 earnings beat, sales fall short

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…