NEW YORK, NY / ACCESSWIRE / November 2, 2018 / Wayfair and Floor & Décor reported their third quarter results on Thursday. While Wayfair saw strong growth, investors were spooked by other things and sent shares down nearly 13%. Floor & Décor Holdings were up about 24% on strong results.
RDI Initiates Coverage on:
Floor & Decor Holdings, Inc.
https://rdinvesting.com/news/?ticker=FND
Wayfair Inc.
https://rdinvesting.com/news/?ticker=W
Floor & Decor Holdings, Inc. shares closed up roughly 24% on about 9 million shares traded yesterday. The multi-channel American specialty retailer of hard surface flooring reported
Access RDI’s Floor & Decor Holdings, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FND
Wayfair Inc. shares closed down 12.81% on Thursday with nearly 10 million shares traded. While the home furnishings retailer reported strong growth in the third quarter, it was weaker gross margin reflected cost pressures as well as adjusted losses almost doubling from the same quarter a year ago that had traders concerned. CEO and co-founder Niraj Shah said on the earnings call, "In Q3, Direct Retail net revenue grew by $511 million or 43% year-over-year and total net revenue grew by 42% year-over-year. US Direct Retail net revenue was up $426 million or 41% versus Q3 last year. And international Direct net revenue was up $85 million or 58% versus Q3 last year. These strong results in Q3 follow the $538 million of Direct Retail net revenue we added year-over-year in Q2, which included our first Way Day, representing over $1 billion of Direct Retail net revenue growth year-over-year in the last two quarters alone. We're delighted to see our offering engage more and more people with 13.9 million shoppers buying from us over the last year and LTM net revenue per active customer continuing to grow, reaching an all-time high this quarter of $443. We've built a customer proposition that is demonstrating increasing residents with shoppers as you can see in our KPIs and we feel incredibly bullish about future growth as a result."
Access RDI’s Wayfair Inc. Research Report at:
https://rdinvesting.com/news/?ticker=W
Our Actionable Research on Floor & Decor Holdings, Inc. (NYSE: FND) and Wayfair Inc. (NYSE: W) can be downloaded free of charge at Research Driven Investing.
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