Thursday, November 15, 2018

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Niraj Shah, Wayfair co-founder and CEO

Source: CNBC
Niraj Shah, Wayfair co-founder and CEO

Wayfair shares slid by more than 14 percent Thursday morning after the company reported a wider-than-expected loss for the third quarter and high spending to attract new customers.

Saunders said Wayfair’s “customer centricity” has helped it outperform the market, even though its earnings missed Wall Street estimates.

The company’s loss widened to $151.7 million, or $1.69 a share, during the three months ended Sept. 30, compared with a loss of $76.4 million, or 88 cents a share, during the same period last year. After adjusting for some tax issues and other items, the company lost $1.28 a share while analysts expected an adjusted loss of $1.09 a share, according to average estimates compiled by Refinitiv.


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