Wayfair CEO Says Furniture Business Similar Now to Great Financial Crisis
WWayfair(W) Investopedia·2024-08-02 07:02

Key Takeaways"Customers remain cautious in their spending on the home," according to Wayfair CEO Niraj Shah. The furniture retailer's third-quarter guidance, to a decline in the low single digits, was lower than analysts expected. Second-quarter revenue fell 1.7% year-over-year. People aren’t buying furniture to a degree that hasn’t been felt since the Great Recession of 2008, according to Wayfair's (W) CEO. Shares of the online home furnishings retailer dropped after the company’s second-quarter results we ...