Wayfair Reports Mounting Losses, CFO Departure as Retailer Loses Active Customers
Wayfair reported larger-than-expected losses in the first quarter as shoppers scaled back their spending on the home category.
Wayfair reported its count of active customers in the first quarter of 2022 declined 23.4% from a year ago. Wayfair also announced its chief financial officer, Michael Fleisher, is set to retire early next year.shares tumbled in premarket trading Thursday after the online furniture retailer reported larger-than-expected losses in the first quarter as shoppers scaled back their spending on the home category.
Wayfair also announced its chief financial officer, Michael Fleisher, is set to retire early next year. Kate Gulliver, current chief people officer, will be moving into the CFO role in November. Fleisher will remain at the company for a transition period until next January, it said. Wayfair co-founder and Chief Executive Officer Niraj Shah said, despite sliding sales, consumer health remains"relatively strong."Download NBC 5 Dallas-Fort Worth
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