Wayfair Shares Rise After Sales Beat

By Tonya GarciaMarketsMarketWatch Pulse

Wayfair Inc. shares rose 3% in Thursday premarket trading after the online home retailer announced sales that beat estimates. Net loss for the quarter was $44.0 million, or 51 cents, compared with a $15.5 million loss, or 18 cents, for the same period last year. Adjusted loss was 34 cents per share, ahead of the FactSet consensus for a 50-cent loss. Sales were $984.6 million, up from $739.8 million, and beating the $970.0 million FactSet consensus. The number of active customers rose 53.9% year-over-year to 8.3 million as of Dec. 31, 2016. Average order value was $203 for the quarter, down from $222 the year prior. Wayfair shares are up nearly 1% for the past year while the S&P 500 index is up 23% for the same period.

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