W Stock Recent News

BOSTON , Sept. 23, 2024 /PRNewswire/ -- Wayfair Inc. (NYSE: W) (the "Company," "we" or "Wayfair") today announced that its subsidiary, Wayfair LLC (the "Issuer"), intends to offer, subject to market and other conditions, $700 million in aggregate principal amount of senior secured notes due 2029 (the "Notes") in a private offering.

Wayfair (W) stock price has remained under pressure in the past few years as concerns about weak consumer spending remain. It was trading at $52.67 on Friday, down by over 41.8% from its highest point in July 2023 and 86% from its all-time high during the pandemic.

One prognosticator following the stock reiterated his buy recommendation. The market continued to be hot on furniture retail stocks following RH's quarterly earnings release late last week.

The furniture and home furnishings retailer benefited enormously from a rival's latest news. We can therefore say its Friday share price pop derived from "The RH Effect.

Earnings season saw many companies surpass expectations, but some suffered significant drops this past reporting season.

I'm upgrading Wayfair to a buy, after the stock slid to multi-year lows even below pre-pandemic levels after reporting Q2 results. The company's top-line sales slowed down after its Way Day performance, but it has new marketing and pricing strategies to drive growth going forward. Meanwhile, profitability is rising as the company hit a three-year quarterly record for adjusted EBITDA in Q2. This gives the company room to invest in more promotional activities going forward.

BOSTON--(BUSINESS WIRE)--Perigold, the luxury retailer serving as the destination for the world's best home brands, is excited to announce plans for retail stores with its first-ever confirmed storefront in CityPlace, West Palm Beach's most visited destination with curated open-air shopping, dining, art and events in the heart of downtown. This new venture marks a significant milestone in the brand's ambitious expansion plan to build a brick and mortar presence in key markets, and create a real.

The bear parade continued, with several more analysts cutting their price targets on the shares. This followed last week's disappointing second-quarter earnings report.

Wayfair remains a buy due to its positive long-term growth outlook and strong competitive advantage. 2Q24 results showed revenue decline and missed EBITDA estimates, but W continues to gain market share. Near-term EBITDA margin expansion may be muted, but long-term growth and margin expansion drivers remain intact.

Earnings season for this year's second quarter rolls on. And while the results have been largely better than expected, some prints have been real doozies.