Wayfair is exiting the German market and plans to cut as many as 730 jobs, or about 3% of its global workforce, as it looks to focus on new growth drivers such as physical retail, the company said Friday.About half of the affected employees will have the option to stay on with Wayfair if they agree to relocate to London, Boston or other locations where the company has a presence, finance chief Kate Gulliver told CNBC in an interview. The affected positions include corporate roles as well as roles on Wayfair ...

Shares of Wayfair (W -3.23%), the online home furnishings retailer, were among the losers on the stock market this week. News on the company itself was minimal, but the Fed's decision to trim its rate-cut forecast for next year -- from four cuts to two -- hit interest-rate-sensitive stocks like Wayfair hard.As of 11:59 a.m. ET, the stock was down 15.5% for the week, according to data from S&P Global Market Intelligence. What's happening with WayfairWayfair has struggled since the end of the pandemic, as the ...

文章核心观点 - 尽管市场整体表现强劲，Wayfair的股价今年下跌了17%，但其业务具有经济敏感性，且随着通胀缓解和房地产市场复苏，未来可能会有更好的表现 [2][3][4][5][6][7][8][9] 行业表现 - 今年S&P 500 Growth Index增长了40.4%，而S&P 500 Value Index仅增长了11.9%，显示出成长股的表现优于价值股 [1] 公司表现 - Wayfair在疫情初期表现出色，2020年营收增长55%至141亿美元，并实现了GAAP下的盈利 [3] - 然而，2024年第三季度营收同比下降2%至29亿美元，尽管亏损有所收窄，但整体表现不佳 [4] - 同行业的Williams-Sonoma在2023年第三季度营收也下降了2.9%至18亿美元，显示出整个家居产品零售行业面临的压力 [4] 未来展望 - 通胀率从2022年12月的6.5%降至2023年11月的2.7%，如果继续下降，消费者可能会更愿意购买非必需品 [6] - 2023年10月现有房屋销售增长了3.4%，逆转了之前的低迷趋势，随着房屋销售的增加，Wayfair可能会受益 [7] 估值 - Wayfair的股价目前交易在0.5倍的市销率（P/S），远低于其10年中位数1.3，显示出其股价被低估 [8]

文章核心观点 - 文章认为12月是投资者关注那些在过去一年表现不佳但在未来一年可能反弹的股票或行业的良好时机 其中房地产市场显示出早期改善迹象 这可能对Wayfair等家居电商公司有利 [1][2] 行业表现 - 根据全美房地产经纪人协会的数据 10月份待售房屋销售环比增长2% 这是该指标连续第三个月增长 显示出房地产市场的早期改善迹象 [1] 公司表现 收入表现 - Wayfair的收入在2020年第二季度达到峰值43亿美元 但过去一年稳定在约28亿美元 尽管第三季度收入同比下降2% 但显示出在当前水平上稳定的迹象 仍远高于2019年的水平 [5][6] - 公司约有1000万高频购物者 占其2100万活跃客户的近一半 这些客户在过去12个月内下了四次或更多订单 公司看到了增加这一数字的重要机会 [7] 成本管理 - 由于收入下降 公司的自由现金流在2021年第一季度达到15亿美元的峰值后 在2023年第四季度降至负11亿美元 但过去一年管理层将自由现金流恢复到4300万美元以上 [8] - 管理层将成本管理的改善归因于更好的成本效率和支出纪律 公司在过去两个季度实现了正的调整后EBITDA利润率 并预计第四季度的EBITDA利润率将在2%到4%之间 [9] 估值 - Wayfair的当前股价为54美元 市销率为055 如果公司能够实现每年10%的收入增长 其市销率估值可能会上升 从而推动股价大幅上涨 [11][12] 市场机会 - 根据市场研究公司2 Visions的报告 82%的消费者愿意在线购买家居装饰品 Wayfair是这类商品的主要在线购物目的地之一 公司有很大的增长机会 [11] 市场风险 - Wayfair业务的最大威胁一直是房地产市场严重下滑 通货膨胀上升和消费者可自由支配支出下降 但现在这些问题似乎已经过去 这使得现在是考虑以低价估值购买Wayfair股票的好时机 [13]

Prime is a membership program from e-commerce giant Amazon, and its importance to the company is probably under-appreciated. With Prime, members get fast free shipping, as well as access to streaming video content and more. In short, there are benefits to being a Prime member, and they've helped drive adoption at Amazon.Home-goods e-commerce platform Wayfair (W 1.83%) hopes that a membership program of its own can provide the same boost.On Oct. 22, Wayfair launched Wayfair Rewards, a loyalty program that co ...

This leader in home goods and furniture e-commerce is down but not out.Wayfair (W -0.61%) recently marked the 10th anniversary of its Oct. 2014 initial public offering at $29 per share. Unfortunately for shareholders of the e-commerce giant, the milestone is a bitter one. At the time of this writing, the stock's $40 price marks an 89% decline from the all-time high of $369 it reached in early 2021. Lower sales and large financial losses have been a recurring theme in recent years.The headline numbers don't ...

Rising interest rates weighed on the stock last month.Shares of Wayfair (W -8.80%) were moving lower last month as the online home-furnishings retailer was stung by rising interest rates and a weak earnings report at the beginning of November.Wayfair has struggled since its pandemic-era boom as Americans have sharply scaled back on home-related spending due to high interest rates and the lock-in effect of low mortgage rates during the pandemic, which has brought existing home sales to their lowest point in ...

文章核心观点 - 公司长期增长前景乐观,预计业务EBITDA增长将会加速[1] - 采取自下而上的分析方法,关注个别公司的基本面优势和增长潜力[1] - 目标是识别基本面稳健、具有可持续竞争优势和增长潜力的公司[1] 公司研究 - 公司专注于长期投资,同时利用短期交易寻找阿尔法机会[1] - 投资期限集中在中长期[1] 免责声明 - 分析师本人及其关联方未持有所提及公司的任何股票或期权头寸,未来72小时内也无此类计划[2] - 分析师系独立撰写,文章观点为个人观点,未获得任何报酬(除Seeking Alpha外)[2] - 过往业绩不代表未来表现,任何投资建议仅供参考,不构成买卖依据[3] - Seeking Alpha分析师非注册证券经纪人或投资顾问,其观点可能不代表整个网站[3]

Wayfair just whiffed on its latest report, but better times could be in store.Few pandemic winners have been hit as hard as Wayfair (W 4.43%). Shares of the online home-furnishings leader plunged in 2022 and have been down for the count since then as revenue growth has been negative almost every quarter since mid-2021.In its third-quarter earnings report, the company said revenue declined 2% year over year to $2.9 billion, and it remained unprofitable on a generally accepted accounting principles (GAAP) bas ...

文章核心观点 - 公司第三季度非GAAP每股收益超出市场预期,但净收入同比下降2% [1] - 活跃客户数量同比下降2.7%,低于市场预期 [2] 公司业务表现 - 美国市场净收入同比下降2.33%,低于预期 [3] - 国际市场净收入持平,优于预期 [3] - 客户平均订单量和平均订单价值均有所上升,优于预期 [4] - 重复客户订单量同比下降6.3% [4] - 移动端订单占比提升至63% [5] 财务表现 - 毛利率同比下降0.88个百分点至30.27% [6] - 调整后EBITDA同比增长19% [6] - 客户服务和商户费用同比下降17.6% [6] - 广告费用同比增长5% [6] - 其他经营费用同比下降19.4% [6] - 公司实现GAAP经营亏损7400万美元,去年同期为1.63亿美元亏损 [7] - 经营活动现金流为4900万美元,上季度为2.45亿美元流出 [9] - 自由现金流为负900万美元 [9]