Wayfair (W) Boosts Kelly Clarkson Offerings With New Collection
Wayfair W expanded the French-country-styled Kelly Clarkson Home line’s offerings on the back of its latest launch, The Montana Collection.
Notably, the new launch is inspired by Wayfair’s official brand ambassador, Kelly Clarkson’s ranch home in Montana, featuring the star’s self-curated collection of vintage-inspired furniture and décor pieces.
Moreover, in addition to offering affordable, elegant, and rustic furniture and decor for Kelly Clarkson Home, the new collection incorporates faux furs, suedes and distressed wood for a real-life look.
We believe that the latest move is likely to boost Wayfair’s holiday sales by adding such curated home decor items to its overall portfolio offerings ahead of the festive season.
Wayfair Inc. Price and Consensus
Wayfair Inc. price-consensus-chart | Wayfair Inc. Quote
Growth Prospects
The Montana Collection launch bodes well for the company’s growing efforts to strengthen its footprint in the global home decor market.
Per a Statista report, the home decor market revenues are expected to hit $125.5 billion in 2023 and is likely to witness a CAGR of 4.8% during the forecast period of 2023-2028.
A Market Data Forecast report indicates that the global home decor market size is expected to reach $939.7 billion by 2038, registering a CAGR of 6.8% between 2022 and 2032.
We believe that the growing presence in the promising home decor market is expected to aid the company in winning investor optimism in the near term.
Wayfair shares have gained 71.3% in the year-to-date period, outperforming the industry’s growth of 31.6%.
Expanding Product Portfolio
The latest move is in sync with the company’s growing efforts toward strengthening its overall product portfolio.
Apart from the latest launch, Wayfair introduced Decorify, a generative AI-powered app that allows shoppers to reimagine their spaces and personalize their style by uploading photorealistic images of their homes.
Further, Decorify offers customers the ability to browse various room designs and products and make purchases directly from the application.
Additionally, Wayfair launched the Digital Design Studio, a patent-pending technology that combines online and in-store shopping experiences. The kiosk allows customers to create and interact with design layouts in a 3D room, enhancing the omnichannel experience.
Zacks Rank & Stocks to Consider
Currently, Wayfair carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the retail-wholesale sector are Amazon AMZN, Arcos Dorados ARCO, and Lithia Motors LAD. While Amazon and Arcos Dorados sport a Zacks Rank #1 (Strong Buy) each, Lithia Motors carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Amazon shares have gained 73.2% in the year-to-date period. AMZN’s long-term earnings growth rate is currently projected at 33.83%.
Arcos Dorados shares have gained 22.1% in the year-to-date period. ARCO’s long-term earnings growth rate is currently projected at 11.38%.
Lithia Motors shares have gained 37.1% in the year-to-date period. The long-term earnings growth rate for LAD is currently projected at 3%.
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