Was the Q4 2022 Earnings Report the Beginning of the End for Wayfair Stock?
Wayfair (NYSE: W) stock plummeted 23% the day after the company released its Q4 and full-year results for 2022. Its dramatic drop in earnings prompted investors to dump shares of the Boston-based furniture and home goods retailer.
Additionally, the massive losses and worsening trends in its business point to serious challenges for the internet and direct marketing retail stock. The question for investors is whether Wayfair is worth a speculative buy or a company they need to avoid.
For 2022, the revenue of just over $12 billion dropped 11%. Unfortunately for Wayfair, 2022 losses spiked considerably higher, with the company losing $1.3 billion, a tenfold increase compared to 2021. Operating expenses surged 20% higher as revenue levels dropped.
Source Fool.com
