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Wayfair Shares Slide on Q2 Loss as CEO Commits to Investing in Logistics

Wayfair Shares Slide on Q2 Loss as CEO Commits to Investing in Logistics

Online home-furnishings company's effort is designed to further speed delivery to customers.
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Wayfair

Online home-furnishings company's effort is designed to further speed delivery to customers.

Wayfair (W)  shares eased after the online home-furnishings company reported a second-quarter net loss wider than a year earlier but in line with analysts' expectations. 

The shares were down 1.2% at $129/60. 

The Boston company's net loss widened to $1.98 a share from $1.13 in the year-earlier quarter. The adjusted losses were $1.35 a share against 77 cents. Shares outstanding rose 3% to 91.8 million.

Analysts surveyed by FactSet were modeling for a loss of $1.35 a share. 

Revenue advanced 42% to $2.34 billion from $1.66 billion. The FactSet view: $2.26 billion. 

"As we continue to strengthen our global logistics network through the addition of Castlegate warehouses and last-mile-delivery facilities, we are driving cost efficiencies and building an unparalleled experience for our customers with even faster delivery," Wayfair Chief Executive Niraj Shah said in a statement.

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