As Wayfair faces big losses, company sets goal to ‘break even’
[ad_1] BOSTON — After a brief period of profitability during the pandemic, Wayfair has once again turned to negative numbers. Its immediate goal for the coming quarter is to first break even and then return to profitability, CEO Niraj Shah told investors during an earnings call this morning. “We’re continuing the work we set out […]
Read More
Wayfair runs second Way Day of 2022 to get jump on holiday sales
[ad_1] Wayfair is bringing back Way Day in October. The two-day sale is set for Oct. 26-27. BOSTON — Wayfair’s annual spring Way Day sale is coming back this month to help kick-off the Boston-based online home furnishings retailer’s holiday sales campaigns. The second Way Day of 2022 gets underway on Oct. 26 at 12 […]
Read More
Wayfair supports Black-owned businesses with expanded product assortment
[ad_1] BOSTON — Wayfair has expanded its assortment of home products from Black-owned businesses and made it easier for consumers to shop for them through the launch of Celebrate Black Makers. With the launch, the retailer has established its Supplier Diversity@Wayfair program, which was designed with help from Black-owned suppliers such as AphroChic and Candice […]
Read More
Wayfair axes 1,750 jobs in next phase of cost restructuring
[ad_1] BOSTON — Wayfair is cutting an additional 1,750 jobs — 10% of its global workforce — as the multi-format home goods retailer moves forward with its $1.4 billion cost-restructuring plan started last summer. About 18% of those jobs, representing about 1,200 employees, are from Wayfair’s corporate staff. According to the company, the changes reflect efforts […]
Read More
Wayfair sues three suppliers; alleges complex fraud scheme
[ad_1] BOSTON – Online furniture retail giant Wayfair has sued three of its furniture suppliers, alleging the companies engaged in a complex scheme to cheat Wayfair out of extra payments. On Nov. 23, Wayfair filed a complaint against Rosevera Corp., Mulhouse Furniture, Fully Wind Co., former Rosevera CEO and Fully Wind vice president Ping Hua […]
Read More
Wayfair generates modest sales gains in U.S. over 5-day holiday kickoff period
[ad_1] Boston – Repeat customers provided the backbone for Wayfair’s Black Friday sales gains, accounting for 73% of all orders. The online home furnishings giant also reported that “hundreds of thousands” of new customers ordered from Wayfair for the first time during the holiday kickoff event. During the 5-day period between Thanksgiving and Cyber Monday, […]
Read More