Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.
Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.
Here's how Wayfair did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net loss for the three-month period that ended March 31 was $248 million, or $2.06 per share, compared with a loss of $355 million, or $3.22 per share, a year earlier. Excluding one-time items, the company lost 32 cents per share.
"Shoppers are increasingly choosing Wayfair, with year-over-year active customer growth once again positive and accelerating compared to last quarter," Shah said.
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