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Wayfair's shares are plunging after its chief executive said on an earnings call that demand for household goods is at the level of the “financial crisis.”

Wayfair Inc. (W) Q2 2024 Earnings Call Transcript

Wayfair saw its quarterly sales dip amid continued pressure on home goods consumers.

Although the revenue and EPS for Wayfair (W) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

CNBC's Jim Cramer delivers his daily Mad Dash.

Wayfair (W) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.21 per share a year ago.

Wayfair Inc. W shares are down 4.9% premarket after the online furniture retailer reported worse-than-expected second-quarter results amid continued macro headwinds. The company reported a net loss of $42 million, or a loss of 34 cents a share, after a loss of $46 million, or a loss of 41 cents a share, in the prior year's quarter.

Wayfair reports second-quarter revenue of $3.12 billion, down from $3.17 billion a year earlier.

Wayfair CEO Niraj Shah likened the slowdown in the home goods category to the great financial crisis as the company reported misses on the top and bottom lines. The e-tailer's finance chief Kate Gulliver told CNBC in an interview that the declines it's seeing are "similar to the declines that we saw in that 2008 to 2010 period.

Q2 Net Revenue of $3.1 billion with 22.0 million Active Customers BOSTON , Aug. 1, 2024 /PRNewswire/ -- Wayfair Inc. ("Wayfair," "we," or "our") (NYSE: W), one of the world's largest destinations for the home, today reported financial results for its second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total net revenue of $3.1 billion, decreased $54 million, down 1.7% year over year U.S. net revenue of $2.7 billion, decreased $55 million, down 2.0% year over year International net revenue of $387 million, increased $1 million, up 0.3% year over year.