Wayfair is opening its first-ever physical furniture store [CNN]
Wayfair Inc. Class A (W)
Last wayfair inc. class a earnings: 2/28 07:00 am
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Source: CNN
The large-format store, clocking in at 150,000 square feet and located in Edens Plaza in Wilmette, Illinois, will open to shoppers on May 23. It will also feature an onsite restaurant called “The Porch,” the company said, taking a page out of Ikea's store setup. Although this will be the first brick-and-mortar location for the Wayfair brand, the company has tinkered with opening test stores for some of its other owned brands, including Joss & Main and AllModern. Ad Feedback But the move to expand its flagship Wayfair brands into physical stores comes as it struggles with sluggish sales and an increased need for spending on advertising. “Wayfair's online business has been tremendously successful at generating sales. Unfortunately, it is not profitable because of the amount of marketing that has to be done to attract and retain customers,” said Neil Saunders, retail industry analyst and managing director at GlobalData Retail. Furniture stores need to always be advertising, Sa
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Sec Filings
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