After reporting worse-than-expected losses and a significant year-over-year fall in orders for its fiscal fourth quarter, the home furnishings retailer Wayfair’s (NYSE: W) shares were volatile.
Wayfair’s revenue for the quarter ended Dec. 31 was $3.3 billion, down $419 million, or 11.4%, year-on-year. The diluted loss per share was $1.92, nearly three times the 70 cents experts expected.
Revenue exceeded the FactSet average of $3.3 billion. However, the diluted loss per share was $1.92, roughly three times the 70 cents analysts expected.
Wayfair reported a net loss of $202 million, with a loss of $4 million in adjusted earnings before interest, taxes, depreciation, and amortization. Weyfair stock has been in a downtrend with all-time-low prices seen.
During the week, the broader stock market had a volatile week. Nasdaq Index recovered from the market sell-off, it closed down 18.38 (-0.13%) at 14,189.16. At one point on Thursday, the index got close to 13,000 but its recovery also meant the week saw the index had its best day of 2022.
The Dow Jones Industrial Average closed down at 251.70 (-0.73%) at 34,058.75 while the S&P 500 finish at 4,384.65, unchanged on the week.