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- Wayfair Inc W reported a second-quarter FY21 sales decline of 10.4% year-on-year, to $3.86 billion, missing the analyst consensus of $3.96 billion.
- International net revenue increased 16.3% to $0.8 billion, while the U.S. revenue declined 15.2% to $3.1 billion.
- The number of active customers reached 31.1 million as of June 30, 2021, a 19.6% increase Y/Y. The average order value grew 22.5% Y/Y to $278.
- In Q2, 59.4% of total orders delivered were placed through a mobile device, versus 60.6% last year.
- Adjusted EPS of $1.89 beat the analyst consensus of $1.17.
- Adjusted EBITDA of $310.8 million decreased 29.3%.
- Gross profit fell 14.6% Y/Y to $1.1 billion with a profit margin of 29.2%.
- The operating margin was 3.8%, and operating income for the quarter declined 51.5% to $145.2 million.
- The company held $2.1 billion in cash and equivalents as of June 30, 2021.
- Net cash from operating activities amounted to $275.4 million with a free cash flow of $206.9 million.
- "While the current macro environment is dynamic, the home remains a high priority for our customers and longer term tailwinds to online category growth are firmly in place," said CEO Niraj Shah.
- Price action: W shares are trading higher by 11.17% at $279.26 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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