Wayfair Inc. (NYSE: W) announced financial results for its fourth quarter and fiscal year 2019. For the fourth quarter total revenue rose to USD 519.5 Million to a total of USD 2.5 Billion, documenting a 25.8% growth year over year. United States net revenue rose USD 413.1 Million a 23.9% increase year over year. For the full year 2019, net revenue rose USD 2.3 Billion to USD 9.1 Billion, a 34.6% increase year over year. Net revenue in the United States increased USD 2 Billion, a 33.6% increase year over year.
“We are pleased to close out another year of significant growth with net revenue up 35% year over year in 2019, as our loyal and growing customer base continues to choose Wayfair as the preferred place to shop for home,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “While already operating at a run rate in excess of $10 billion in annual net revenue, we have barely scratched the surface of our total addressable market and are only just beginning to reap the benefits of our large strategic investments across North America and Europe. To take advantage of the tremendous opportunity ahead, we are taking important steps to further optimize the business and drive greater efficiencies where needed to enhance our customer experience, strengthen our supplier partnerships, and further propel us down the path to profitability.”
Shares of Wayfair fell over 20% on Friday, reaching a current low of USD 52.41 with over 7 million shares traded thus far.