Wayfair set to open its first physical store. Here's where. [CBS News]
Wayfair Inc. Class A (W)
Last wayfair inc. class a earnings: 2/28 07:00 am
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Source: CBS News
The 150,000-square foot large-format store is located in Edens Plaza in Wilmette, Illinois, and will open its doors on May 23. Reminiscent of Ikea's store format, Wayfair's location will include a restaurant called "The Porch," the company said Wayfair has opened test stores for some of its other brands, including Joss & Main and AllModern. Founded in 2002, the company generated $12 billion in sales in 2023. The retailer in January laid off 1,650 workers , or 13% of its global workforce. That came after the company reduced its headcount by 1,750 in 2023. It employs more than 13,000 people in North America and Europe. Wayfari has struggled with a dwindling customer based as the pandemic wound down and people returned to the office and began spending less time at home.
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