• The stock price of Wayfair Inc (NYSE: W) fell by 23.05% in the most recent trading session. This is why.

The stock price of Wayfair Inc (NYSE: W) fell by 23.05% in the most recent trading session. Why: Q4 results

Q4 results: Wayfair reported a Q4 EPS of ($1.71), which was $0.09 lower than a consensus of ($1.62). And the revenue for the quarter was $3.1 billion compared to a consensus of $3.06 billion.

KEY QUOTE:

“We are excited to see customers respond positively to improvements in our core recipe – with compelling pricing, faster delivery times and increasing availability bearing fruit in the form of market share gains. We enter 2023 as a lean, focused team driven by the same key priorities that defined much of 2022 – driving cost efficiency, nailing the basics, and earning customer and supplier loyalty every day. Although the short-term macroeconomic picture is unpredictable, we are confident in our ability to navigate its challenges and are reiterating our commitment to quickly reaching adjusted EBITDA profitability and then to positive free cash flow.”

— Niraj Shah, CEO, co-founder and co-chairman, Wayfair