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Stock impact report

Furniture sales continue to slump in tandem with real estate market [Globe and Mail, The (Toronto, Canada)]

Wayfair Inc. Class A (W) 
Last wayfair inc. class a earnings: 2/28 07:00 am Check Earnings Report
US:NYSE Investor Relations: investor.wayfair.com
In November, furniture stores in Canada sold about $1.1-billion in merchandise, based on inflation-adjusted figures from Statistics Canada . Sales have been treading water for years and remain more than $200-million below peak months in 2020 and 2021, when home sales hit record levels and consumers upgraded their spaces during the pandemic. For retailers, the adjustment has been jarring. Some publicly traded furniture companies have shed billions of dollars in market value in recent years. Wayfair Inc. W-N , the American e-commerce retailer that also sells in Canada, has seen its shares rebound of late, but remains about 68 per cent below a 2021 peak. “The housing market's been anemic since 2022,” chief executive Niraj Shah said on a December conference call. It took a village to build this Quebec furniture empire. The trade war is knocking it down The home furnishings market, he added, is “unusually fragmented. And that's just a historical legacy. What we're seeing is that Show less Read more
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