Other retail companies are giving out troubling commentary about the state of the industry, pulling down Wayfair's shares.
Vulcan Value Partners, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. All five of the fund’s strategies trailed their respective benchmarks during the quarter. According to the fund, they ‘place no weight on short-term results, good or bad, and neither should you’. Vulcan Value […]
After falling short of its hiring targets as part of a tax break program, Boston-based Wayfair Inc. said it is freezing corporate hiring for three months, citing a "great deal of uncertainty in the overall economy." In a written statement, the online furniture retailer (NYSE: W) said on Tuesday that the "short-term hiring pause" will not impact Wayfair's long-term plans. The news of Wayfair halting corporate hiring comes about three weeks after the Business Journal reported how the online retailer was falling short of the hiring targets it pledged as part of a pre-Covid $31 million tax break.