Furniture retailer Wayfair jumps after upbeat Q1
Shares of online furniture retailer Wayfair W.N up 9% at $32.83 in premarket trading
Company posts smaller-than-expected loss and edges past estimate for net revenue on steady demand for its products.
That defies the choppiness in demand for home improvement and decor as consumer sentiment weakened in the U.S. and analysts' view of potential challenges for Wayfair due to its high exposure to imports from China
Tariffs are clearly top of mind for everyone — while there's a lot of uncertainty in the broader economy, "we have direct line of sight and strong conviction on what we need to do for both our customers and our suppliers", says Niraj Shah, CEO and co-founder of Wayfair
Wayfair posts Q1 adjusted loss per share of 10 cents compared with analysts' estimate of 22 cents - data compiled by LSEG
Q1 net revenue of $2.73 billion vs estimate of $2.71 billion
YTD, shares down about 32% through last close
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