Ecommerce home furnishings giant Wayfair increased its fourth quarter sales 40.6% to $1.99 billion, but saw its Q4 net loss balloon to $143.8 million, nearly doubling the $72.8 million loss from the same period in 2017.
For the year, Wayfair grew its revenue 44% or $2.1 billion to $6.8 billion but posted a net loss of $504.1 million, more than double the $244.6 million figure on the bottom line in 2017. But the company accentuated the positive on its Q4 earnings call, touting its net revenue growth and holiday performance.
“In the fourth quarter of 2018 we added $577 million in direct retail net revenue year-over year, representing the largest dollar growth in a single quarter of the company’s history,” Wayfair Co-Founder, CEO and Co-Chairman Niraj Shah told analysts.
Shah said sales growth was driven by the strength of offerings, with more than 15 million active customers at the end of 2018 exceeding 15 million. He added…