Shares of Wayfair Inc.
W,
climbed 1.5% in premarket trading Thursday’s, to bounce off the previous session’s three-month closing low, after the online home-furnishings retailer reported a narrower-than-expected fourth-quarter loss and said it returned to positive active customer growth. Net losses narrowed to $174 million, or $1.49 a share, from $351 million, or $3.26 a share, in the year-ago period. Excluding nonrecurring items, such as equity-based compensation costs, the adjusted per-share loss of 11 cents beat the FactSet loss consensus of 15 cents. Revenue grew 0.4% to $3.114 billion, just above the FactSet consensus of $3.106 billion. Active customers as of Dec. 31 rose 1.4% to 22.4 million, while net revenue per active customer over the last 12 months fell 2.9% to $537 and the average order valued declined 2.5% to $276. Chief Executive Niraj Shah said the company saw “robust” share expansion in 2023 and a “step-up” in customer loyalty. The stock has tumbled 20.9% year to date through Wednesday, while the S&P 500
SPX,
has gained 4.4%.
