Wayfair Stock Soars on Sizzling Holiday Sales

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Wayfair stock (NYSE:W) is soaring Wednesday afternoon as the e-commerce company unveiled its holiday sales figures and they were through the roof.

Wayfair StockThe Boston, Mass.-based online furniture and home goods retailer said that the company experienced a surge in its direct retail sales over the busiest holiday shopping period of the year. During the five-day shopping weekend, the company’s direct retail sales gained 58%.

Wayfair did not reveal how exactly it defines its direct retail sales, meaning it is unclear if this measures dollar value per order or total number of orders. The holiday period begins with Thanksgiving Day and it lasts through Cyber Monday, which marked the peak of its sales for the period, while Black Friday showed the most growth.

“We see the overall cadence of holiday shopping changing with online becoming the clear leader throughout the holiday weekend, driving outsized growth,” CEO Niraj Shah said in a statement. Wayfair’s growth was seen throughout most of the company’s catalog, but it was especially apparent for household goods.

The company’s sales were higher for goods in all rooms of the house, including for larger items such as sofas and dining sets, according to the company’s holiday period sales report.

W stock is up a whopping 15.1% during regular trading hours on Wednesday following the company’s impressive holiday period sales showing.


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