|Bid||56.84 x 3100|
|Ask||57.02 x 1400|
|Day's Range||52.41 - 60.80|
|52 Week Range||52.41 - 173.72|
|Beta (5Y Monthly)||1.78|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||103.63|
Stocks on Friday deepen a weekly rout as investor fears rise over the potential degree of damage the fast-spreading COVID-19 virus will inflect on the global economy and supply chains.
(Bloomberg) -- Wayfair Inc., which relies on China for half of its products, fell the most ever after saying its quarter-to-date revenue growth is trending just under 20%, well below historical rates.If that growth rate tracks through the rest of the quarter, it would be the slowest growth in its history as a public company, according to data compiled by Bloomberg. Wayfair expects first-quarter net revenue in the $2.235 billion to $2.275 billion range, the company said on its earnings call. That compares with the average analyst estimate of estimate $2.47 billion and is below the low end of analyst expectations.Wayfair said its forecast doesn’t factor in any significant impact from the virus, although it’s seeing some disruptions in the supply chain. The Boston-based online furnishings retailer also reported a wider-than-expected loss in the fourth quarter, while net revenue narrowly beat estimates.The shares fell as much as 26% on Friday. The stock had already lost 22% this year, compared with a 5.8% decline in the Russell 1000 Consumer Discretionary Index.Wayfair issued additional guidance on its earnings call:Sees first-quarter adjusted Ebitda margin in the negative 7.3%-7.8% rangeSees first-quarter U.S. revenue growth 14%-16%, sees international growth 22%-25%Sees more consistent positive adjusted Ebitda in the U.S. sometime in 2021Said it’s confident in its long-term gross margin targetsCapex to remain elevated in first quarter at 5%-5.5% of salesTo contact the reporters on this story: Janet Freund in New York at email@example.com;Courtney Dentch in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Chris Nagi at email@example.com, Catherine LarkinFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wayfair (W) delivered earnings and revenue surprises of -5.66% and -0.05%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Benzinga Pro's Stocks To Watch For Friday Beyond Meat (BYND) - Shares were down 11% following better-than-expected Q4 sales. The company reported a quarterly loss of $452,000. Guidance was largely inline. ...
Wayfair (NYSE: W) reported quarterly losses of $2.80 cents per share on Friday, which missed the analyst consensus estimate by 15 cents. The company reported quarterly sales of $2.533 billion, which beat the analyst consensus estimate of $2.53 billion. Wayfair reports fourth-quarter active customers were at 20.3 million.
Wayfair Inc. shares slumped 8% after the e-commerce home retailer reported fourth quarter losses that were wider than expected. Net loss totaled $330.2 million, or $3.54 per share, after a loss of $143.8 million, or $1.59 per share, last year. Adjusted losses were $2.80 per share, deeper than the loss of $2.63 that FactSet forecast. Revenue was $2.53 billion, up from $2.01 billion and in line with the FactSet consensus. Revenue per active customer rose 1.1% year-over-year to $448. Average order value was $226 during the quarter. And repeat customers placed 68.6% of orders in the fourth quarter. Wayfair sites include the namesake, Joss & Main and AllModern. Wayfair stock has falled 57.5% over the last year while the S&P 500 index has gained 7% for the period.
After a streak of layoffs at prominent public tech companies, another local firm has reduced its workforce. This time, the company making cuts is private, valued over $1 billion and raised $200 million in funding just last month.
Wayfair shares were cut to equal weight at Stephens. Analyst Rick Nelson says the online retailer's path to profitability is 'muddled.' And he's not surprised by reports of job cuts.
Wayfair Professional Launches 5th Annual Tastemaker Awards to Recognize Exceptional Commercial and Residential Design
Experiential retail, while not new, is starting to gain traction with consumers. Investors looking to make money from retail stocks ought to consider companies that understand the consumer's desire for something more.If you didn't see the news, Pier 1 Imports (OTCMKTS:PIRRQ) filed for bankruptcy on Feb. 17. As part of the retailer's plan to survive post-bankruptcy, it is closing up to 450 stores, including all of its Canadian locations. Although you never like to see anyone lose their jobs, the writing had been on the wall for several years. The growth of Wayfair (NYSE:W) likely was the final nail in its coffin. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn hindsight, it's easy to see how the retailer could have benefited from a business strategy that focused more on experience and less on stuff.In 2020, a 200,000-square-foot complex will open called AREA15, which delivers a customer experience like no other. "Consumers want immersive experiences and environments and that content must be carefully curated and ever-changing, blending one tenant experience with the next and presenting engaging ways to entice customers to share their experiences through social media," stated AREA15 CEO Winston Fisher. * 7 Tarnished Blue-Chip Stocks to Ditch Now Some companies get experiential retail, and some don't. These seven retail stocks get it. Pier 1 did not. Retail Stocks to Buy: VF (VFC) Source: rblfmr / Shutterstock.com It has not been an excellent start to the year for VF (NYSE:VFC), the holding company that owns Vans, The North Face, Timberland and several other well-known brands. VFC stock is down 16.3% year to date (total return) through Feb. 19.How could a company that owns a hot growth brand like Vans be so far underwater so early in 2020? That's a good question. The coronavirus, which caused the temporary closure of 60% of its stores in China, didn't help. However, not all is lost for the retail brand conglomerate. Vans, its skateboard-focused lifestyle brand, is killing it. In the first nine months of VF's fiscal year, Vans sales grew 17% year over year, excluding currency. Part of the company's Active segment, revenues should cross $5 billion for the year. Vans has done an excellent job driving traffic to its stores. As its VP Digital Technology, Matt Weber stated at the National Retail Federation's Big Show in New York City, "Retailers have to do everything to make consumers want to come into the store when they no longer have to."In 2020 and beyond, look for VF to take this attitude at Vans and spread it around. Eventually, investors will catch up with the work it's doing to jazz up the store experience. Lululemon (LULU)Source: Richard Frazier / Shutterstock.com Retail Dive, who covers the retail industry quite effectively, recently highlighted five experiential store concepts to hit New York City. One of them happens to be Lululemon's (NASDAQ:LULU) Flatiron flagship store, where consumers can get their leggings and pants customized while they wait. It goes on to discuss Hub Seventeen, the basement space that doubles as a coffee bar and yoga studio. While I get the experiential aspects of the store, it was the Chicago opening last July of a 20,000-square-foot store that reflected the athletic brand's commitment to the experiential.Twenty thousand square feet in Lincoln Park doesn't come cheap. Of course, when you're as dialed in as LULU is -- up 13.3% YTD and 78% over the past 52 weeks -- bigger is usually better. * 7 Stocks to Buy Over $100 That Are Worth Their Price Tags As I said in December, LULU is likely to be the next Nike (NYSE:NKE). Macy's (M) Source: digitalreflections / Shutterstock.com The obvious choice from the department store crowd would have been Nordstrom (NYSE:JWN), whose NYC flagship store on West 57th is an experiential overload and the largest single-project investment in the retailer's history. Instead, I opted to go the contrarian route with Macy's (NYSE:M), which is having a devil of a time rightsizing its massive real estate footprint.The struggling retailer just opened the first Market by Macy's in Texas. Only 20,000 square feet in size, it is a gathering of approximately 120 brands curated for the local Dallas-area bon vivant. It's not meant to be a massive store where you can find everything under the sun. Instead, it's a store for experimentation and fun. No longer does it need to hit shoppers over the head with 150,000 square feet of space. "Experimenting with different store formats allows retailers to identify the best size and location of stores for individual markets, and smaller footprints enable brand penetration in smaller markets that can't support a large-format store," said David Naumann, vice president of retail marketing at enVista. "We are seeing several brands expand into strip malls that offer the advantage of rents about one-half the cost of traditional malls and offer greater convenience for shoppers."Trading at 0.2 times sales, half the multiple for Nordstrom, this might seem like a Hail Mary. To me, it looks like a smart way to leverage the company's 161-year history. Experiential retail might be the stock's savior. Simon Property Group (SPG)Source: Jonathan Weiss / Shutterstock.com I don't think there's any doubt when it comes to malls that Simon Property Group (NYSE:SPG) is the 100-pound gorilla of retail. Back in February 2018, I recommended the real estate investment trust's stock despite the fact retail was looking less than healthy. "Yes, I realize it's one of the world's largest mall owners, an area of the economy that struggled mightily in 2017, but things are looking better in retail and Simon's up to the challenge of transforming the shopping experience to meet the modern consumer," I wrote at the time. Two years ago, it was yielding 5.1%. Today, that's up to 6%. SPG stock has fallen in value as investors continue to debate the merits of owning retail real estate. While I understand investor fears, Simon is doing everything in its power to remain relevant. Case in point, the company recently announced a partnership with SBE Entertainment Group (operator of restaurants and hotels) and Accor (OTCMKTS:ACCYY), the people behind hotel brands such as Fairmont, Sofitel, Raffles and many others. The partnership -- to be called C3 -- will develop 200 "ghost kitchens" by the end of 2021. Ghost kitchens, for those unfamiliar, are kitchens set up to make food for takeout and delivery only. There is no sitdown space. Some of the locations will be at Simon malls. Others will be at Accor hotels, who own 50% of SBE Entertainment. The partnership plans to focus on delivery. While it might seem strange to open a ghost kitchen in a mall, Simon wants to fill its retail footprint with the experiential. Customers who utilize the ghost kitchen's services will tell others. This ultimately increases the foot traffic while filling vacant space. The alternative: its space remains empty. Not a winning recipe. * 10 Dividend Stocks to Buy That Are Off to a Fast Start in 2020 Despite being down 10% over the past two years (not including dividends), I continue to like what Simon has been doing to protect its malls from irrelevance. Long-term, SPG's a winner. RH (RH)Source: Andriy Blokhin / Shutterstock.com Formerly known as Restoration Hardware, RH (NYSE:RH) caught the attention of investors last fall when it was revealed that Warren Buffett purchased 1.2 million shares of the furniture retailer in the third quarter. RH stock jumped by more than 7% on the news. It turns out that Buffett is at it again. On Feb. 18, it was revealed that Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) added more than 500,000 shares of the retailer's stock in the fourth quarter. The company now holds 1.7 million shares, good for a 9% ownership stake. Not bad for a guy who said in 2018 that there were better stocks to own than retailers. I'm guessing he figured out RH gets the experiential trend. Here's an excellent quote from RH CEO Gary Friedman that explains the company's focus:"While most in our industry are closing or downsizing stores, we remain committed to our quest of revolutionizing physical retailing," Gary Friedman, CEO, RH, wrote in a letter to shareholders in 2018. "The road of endless promotions, free shipping, and a shrinking store base is resulting in broken and unsustainable retail models. We prefer the road less traveled by, and like Robert Frost, believe it will make all the difference."If you live in Minneapolis, go to its RH Gallery, a three-level, 60,000-square-foot, experiential extravaganza that includes a rooftop patio. I think you'll understand why Buffett is buying. Sonos (SONO)Source: ClassyPictures / Shutterstock.com Own a vacuum brand? Open a retail store. Own a cast-iron stove manufacturer? Open a retail store. Own a speaker brand? Open a retail store. Everyone, it seems, is going direct. That's what Sonos (NASDAQ:SONO) did in July 2016 in New York City's SoHo neighborhood. The space is meant to recreate the various rooms in your house where you might go to listen to music. If you love music, the Sonos retail store is a must-visit if you're in New York.Why hasn't it opened more stores? Probably because they're darn expensive. Not every company has the deep pockets of Apple (NASDAQ:AAPL). Consider that Sonos made $71 million in its latest quarter on $562 million in sales. Sonos' profit was less than Apple CEO Tim Cook's 2017 bonus. Why am I talking about a store that first opened in 2016? Because it continues to do retail the right way and that's never going to go out of style. "Some people view experiential retail as a cliche, but the Sonos store is innovative retailing in the sense that it has a very defined marketing segment (young adults), clarity in the promotion (gamification), and is located in a trendy part of New York City (Soho). In other words, a successful online strategy translated into offline," stated retail expert Ronny Max in her January blog about experiential and concept stores in NYC. * 7 Earnings Reports to Watch Next Week Solidly profitable and cheap, SONO stock is an excellent buy at the moment. Walmart (WMT)Source: fotomak / Shutterstock.com One of the other 52 locations on Ronny Max's list is Walmart's (NYSE:WMT) Intelligent Retail Lab (IRL) in Levittown, Long Island. Located within one of the retailer's smaller Neighborhood Market locations, it's the retail version of a petri dish, with experimentation being the name of the game. "Each time our customers shop in this Walmart, we learn something new by using state-of-the-art hardware and software technologies, including artificial intelligence (AI). W plan to test a wide range of concepts we think will simplify the shopping experience and improve our stores," states Walmart's IRL website.I've never been a fan of Walmart's stores (WMT stock itself is a buy), but I think it would be interesting to visit this location to experience how the company tackles big-picture problems. Investors owning WMT stock more than a couple of years ought to visit the store -- it's open 18 hours a day, seven days a week -- because it will give you a real understanding of what's involved to make its stores a success. While Walmart is struggling to make its e-commerce business profitable, initiatives like IRL will definitely help it get there faster.Will Ashworth has written about investments full-time since 2008. Publications where he's appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.At the time of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Delicious Restaurant Stocks to Buy * 10 Dividend Stocks to Buy That Are Off to a Fast Start in 2020 * 7 Tarnished Blue-Chip Stocks to Ditch Now The post 7 Retail Stocks to Buy to Embrace Experiential Approaches appeared first on InvestorPlace.
Investor sentiment is calling for Wayfair to show a stabilization of revenue trends in 2020 while also demonstrating a quick path to profitability than expected, Gutman wrote in the note. Specifically, Wayfair started off 2019 with a 40% revenue growth rate but likely exited the year at less than 25% based on conversations with suppliers. Meanwhile, Gutman says Wayfair has among the biggest exposure to China and the coronavirus as around 80% of its cost of goods sold (COGS) are sourced from China.
The abundance of job postings in Boston's tech industry doesn’t necessarily mean that jobs in tech are easy to score. Competition is harsh for jobs beyond an ever-growing sector such as software engineering, and employers want to see leadership qualities even in applicants for entry-level positions.
Wayfair (W) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Boston-based Wayfair Inc. will have a new, familiar spokeswoman singing its praises starting next week. The internet retailer, which made headlines last week for the layoffs of more than 500 employees, said on Wednesday that singer-songwriter Kelly Clarkson has signed up as its "first official brand ambassador in the U.S.” The 37-year-old chart-topper is expected to take part in a campaign, “Home: You Got This,” which will start airing on TV on Feb. 24. “We’re delighted to work with Kelly Clarkson to support our mission of helping people easily and affordably shop for the home,” Courtney Lawrie, Wayfair’s director of brand marketing, said in a statement.
Wayfair Inc. stock sank 8.5% in Thursday trading after the e-commerce home design retailer said in a statement that it has cut about 3% of its global workforce, or about 550 jobs, as part of a restructuring. The cuts are part of ongoing evaluations for efficiencies, the company said in a statement. Wayfair also says that it continues to hire for many roles. According to its most recent earnings report, Wayfair had more than 16,000 employees across North America and Europe. Wayfair also said that its wider-than-expected losses in that last earnings report were due to tariffs, which some analysts pushed back against. "A slowdown in growth was attributed to the impact of tariffs, but we are increasingly concerned that growth may be entering a more mature phase," said KeyBanc Capital Markets at the time. Wayfair stock is down 27% over the last year while the S&P 500 index is up 22.6% for the period.
In total, 3% of the company's workforce was cut on Thursday. The company has more than 17,000 employees worldwide, and over 4,000 in its Boston's headquarters in Copley Place.
As Battery did for its recent fundraises, the new cash is actually spread across two investment funds — an $1.2 billion main fund and a $800 million "side" fund. The gender ratio among general partners at Battery remained unchanged since 2018, when the company closed $1.25 billion.
Rating Action: Moody's downgrades Bed Bath sr unsecured rating to Ba2; assigns Ba2 CFR. Global Credit Research- 30 Jan 2020. New York, January 30, 2020-- Moody's Investors Service downgraded Bed Bath& ...
According to a Jan. 17 SEC filing, UK investment management firm Baillie Gifford has increased its stake in Nio (NYSE:NIO), the up-and-coming Chinese electric vehicle manufacturer. It now owns 101.4 million American Depositary Shares or 13.1% of Nio stock.Source: xiaorui / Shutterstock.com At this time last year, Baillie Gifford owned 11% of NIO. Already the company's largest shareholder, the fact that it's increased its stake by 19% in just one year suggests Baillie Gifford has a good feeling about Nio's future.However, when you consider that Nio shares were trading at $6.37 at the end of 2018 -- for a company value of $540 million based on 84.9 million shares -- and a year later are trading 25% lower, with an increased 101.4 million shares worth just $485 million, Baillie Gifford's clients better pray the company's $1 billion in funding isn't just a bad rumor.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut just because one of the UK's preeminent investors likes the company doesn't mean it's all aboard the Nio train, despite momentum gains in 2020 -- 10 days of positive gains versus just four negative days. * Invest in America's Most Trusted Brands With These 7 Stocks to Buy Trading at an eight-month high, Nio is at a crossroads. Will it move higher in the next 6-12 months, or fall back below $3 where it traded for most of last fall? Nio Stock Pushes Through to $10InvestorPlace contributor Chris Lau recently wrote an article entitled "It's a Tough But Winnable Battle for Nio Stock to Reach $10 Again."Chris points out that although analysts don't see $10 within the next 12 months -- the average price target is $6.88 -- but he does point out that Simply Wall Street believes Nio is worth more than $10 based on future cash flow.Furthermore, should Nio secure its much-needed $1 billion in funding to keep the lights on at the company, it could keep moving higher in 2020 as investors gain more confidence that it will still be producing vehicles come this time next year.Confidence, even if just an illusion, can do wonders for a company's stock price. Just look at Wayfair (NYSE:W): it loses money by the boatload, and yet stock has nicely recovered from November lows.Understandably, investors don't seem to value money losers in quite the same way as businesses that historically have been consistently profitable.Add this to the fact that the company's third-quarter results were better on both the top- and bottom-line and you have the making of a 2020 turnaround.But only if it gets the funding. It Heads Back to $3A recent report surfaced that suggested Nio will build 200 brick-and-mortar stores in 2020. Some will be Nio Houses, while others will be smaller Nio Spaces. Whatever physical outlets the company opens, I have to wonder if this is an example of a business writing checks it likely can't cash.In the first three quarters of fiscal 2019, Nio's cash has dropped from $1.1 billion in Q1 2019 to $503.4 million in Q2 2019 to $274.3 million in Q3 2019. While the company expects to generate revenue of $393 million in the fourth quarter, the red ink will drive its cash balances even lower.If it doesn't get the $1 billion in funding the company is looking for by the end of March, the lights at Nio might go out permanently, something I alluded to in November:"The fact is, Nio's Altman Z-Score, a predictor of future bankruptcy, is -4.45 at the current moment. That's nowhere near where it needs to be to give investors a warm, fuzzy feeling. I wish I had better news for shareholders of Nio stock. But you can't put lipstick on a pig. As Don Merideth used to sing on ABC's Monday Night Football, 'Turn out the lights, the party's over!'"Several other InvestorPlace contributors have also expressed their concerns about Nio's cash situation. Where there's smoke, there's fire. Earnings might have been better than expected in the third quarter, but they still weren't close to making a non-GAAP profit.Nio stock has come a long way since the beginning of October, when it traded at a 52-week low of $1.19.From where I sit, the low-hanging fruit has already been picked. To push your luck and hold indefinitely, will reap unfortunate consequences over the remainder of 2020.If you've made decent money on Nio over the past 3-4 months, I would suggest taking profits. If you don't own Nio, now is not the time to start. The risks -- its Altman Z-score is still -4.51 -- are just too darn high.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks on the Move Thanks to the Davos World Economic Forum * Invest in America's Most Trusted Brands With These 7 Stocks to Buy * 7 Earnings Reports to Watch Next Week The post It's High Time to Hop Off The Nio Train appeared first on InvestorPlace.
After yet another volatile day of trading on Wall Street, Yahoo! Finance's Myles Udland discusses what to watch in the markets tomorrow,