News

Wayfair Earnings Grow In 3Q, Company Eyes Expansion

Home furnishings firm Wayfair’s earnings grew 53 percent in the latest quarter to $832 million, reported InternetRetailer.com. That growth came on the heels of continued expansion in areas as diverse as eCommerce logistics and international reach.

The company’s direct retail revenue via eCommerce at sites such as its flagship Wayfair.com, Birch Lane and others was a main driver, said Wayfair. The firm is seeking growth in its holiday-related products and will leverage attention brought through its 10-episode season of The Way Home, which is produced by the company and which airs on the Lifetime Channel. Shoppers interested in the items that appear on the show can purchase those goods online. In reference to logistics, the firm said it has 5 million square feet of space for warehousing, up from 3 million square feet in the second quarter.

Active customers stood at 7.4 million in the latest reporting period, up 60 percent year over year with 12,000 customer-created registries.

Click to comment

TRENDING RIGHT NOW