In its latest quarterly results, Wayfair’s boasts 42.1% growth YoY in direct retail

Wayfair Inc., one of the world’s largest online destinations for the home, have reported financial results for its second quarter ended June 30, 2019, and its largely good news. The company reported direct retail net revenue growth of 42% year-on-year, to $2.3 billion, and 17.8 million active customers, up 39% year-on-year. Direct Retail net revenue, consisting of sales generated primarily through Wayfair’s sites, increased $690.8 million to $2.3 billion, up 42.1% year over year, while the gross profit was $559.6 million or 23.9% of total net revenue

Niraj Shah, CEO, co-founder and co-chairman stressed on how while the brand was strengthening global logistics network through the addition of Castlegate warehouses and last mile delivery facilities, they were also driving cost efficiencies and building an unparalleled experience for customers with even faster delivery.