Wayfair CEO likens home goods slowdown to 2008 financial crisis: 'Customers remain cautious'
Wayfair(W) CNBC·2024-08-01 19:01
The first Wayfair brick-and-mortar store prepares to open on May 02, 2024 in Wilmette, Illinois.Online home goods company Wayfair saw sales decline in its fiscal second quarter as its CEO likened the current slowdown in the home goods category to the 2008 financial crisis."Our credit card data suggests that the category correction now mirrors the magnitude of the peak to trough decline the home furnishing space experienced during the great financial crisis," Wayfair CEO Niraj Shah said in a news release. "C ...