Wayfair sales rise as international losses widen
Wayfair has posted a 42.1 per cent increase in its revenues for the three months to June 30 at, coming in at £1.9 bn as compared with the same quarter last year. Its losses had however deepened with £57 million in losses attributed to its international activity. The homewares specialist has poured funds into TV and digital advertising to recruit new customers during the year to date, as well as strengthened its logistics capabilities.
Wayfair chief executive Niraj Shah said: “We are seeing our investments across the business drive greater and greater value to our suppliers and customers. 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.”