113.32 -0.28 (-0.25%)
After hours: 4:26PM EDT
|Bid||113.34 x 900|
|Ask||113.42 x 1000|
|Day's Range||110.07 - 115.21|
|52 Week Range||76.60 - 173.72|
|Beta (3Y Monthly)||2.47|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||152.79|
UBS initiated coverage of Wayfair at neutral with a price target of $125. Oppenheimer recommends Nike as a top pick within its consumer growth & eCommerce coverage, rating Nike as an outperform stock with a $100 price target. Yahoo Finance's Myles Udland, Jen Rogers and Emily McCormick discuss on The Final Round.
When most consumers think of Wayfair Inc (NYSE: W), it is in terms of furniture and home goods, but Wayfair has now made its way into the cannabis sector. Wayfair refers to the U.S. Supreme Court case, South Dakota v. Wayfair, Inc., in which the court ruled that states may charge tax on purchases made from out-of-state sellers, even without the seller's having a physical presence in the taxing state.
Wayfair (W) introduces a flagship brand, Hykkon, which offers over 700 products for the living room, dining room and bedroom. This is likely to aid growth in its European business.
Wayfair Inc., one of the world’s largest online destinations for the home, today unveiled Hykkon, a carefully curated collection of stylish yet timeless home furnishings to help customers discover exciting design at an affordable price. Hykkon is the first flagship brand for Wayfair’s European business and launched today across Wayfair.co.uk and Wayfair.de. “We’re thrilled to launch our first flagship brand across Wayfair Europe, which gives our customers premium access to an in demand, modern assortment at an affordable price point,” said Martin Reiter, Head of Europe, Wayfair.
Saul recently disclosed August stock transactions. He hadn’t owned any shares of home-decor firm Wayfair at the end of 2018, although he did own an investment in aircraft-engine firm Rolls-Royce.
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the second quarter. You can find write-ups about an individual hedge fund's trades on numerous financial […]
Wayfair (NYSE:W), one of the world’s largest online destinations for the home, announced today the winners of the Dream Classroom Giveaway, a contest awarding five teachers across the United States with brand-new classroom furniture, storage, and décor. Conducted by Wayfair Professional, Wayfair’s business program, nominations from the public were accepted through a contest website earlier this year. “We’re thrilled to announce the Dream Classroom Giveaway winners.
The company's co-founders, Niraj Shah and Steven Conine, hit the rankings for the first time last year with a net worth of $2.2 billion.
As online retailers look for additional ways to get products in front of customers, Amazon is bringing a physical store in the same mall that's home to Wayfair's first full-service retail home store.
Wayfair Inc. , one of the world’s largest online destinations for the home, today announced that it will release financial results for its third quarter ended September 30, 2019 before the opening of the market on October 31, 2019.
Wayfair performs well on data and delivery, both of which are “critical future frontiers in retail,” Lasser said in the initiation note. Wayfair’s penetration of U.S. households should increase from an estimated 9% to 15% by fiscal 2021 and 18% by fiscal 2023, Lasser said.
Wayfair stock has climbed this year even as many of its retail peers languish. Yet UBS says investors should wait before jumping in.
MADISON, N.J., Sept. 25, 2019 /PRNewswire/ -- Sotheby's International Realty Affiliates LLC today announced an affiliation with Perigold, the luxury home furnishings retailer, to introduce premium pieces into the Curate by Sotheby's International Realty(SM) augmented reality (AR) app. The collaboration enables Sotheby's International Realty® agents to create virtual stagings with distinguished Perigold furniture and décor within the app and on the Sotheby's International Realty global website. "Our collaboration with Perigold builds upon the continued excitement from our global network and agents to provide clients with the latest and best in technology," said John Passerini, global vice president of interactive marketing, Sotheby's International Realty Affiliates LLC. "Perigold's fine furnishings include pieces from cutting-edge innovators and heritage-rich mainstays, making them ideally situated to advance the Curate by Sotheby's International Realty AR app.
Wayfair (NYSE:W), one of the world’s largest online destinations for the home, announced that customers of its business program, Wayfair Professional, can instantly purchase complete furnishings and fixtures for pre-designed rooms in just a few clicks.
Wayfair (NYSE:W), one of the world’s largest online destinations for the home, today announced the appointment of Anke Schäferkordt to its board of directors. Schäferkordt brings extensive experience in media and international markets to the Wayfair board drawing upon her long tenure as a visionary leader and chief executive for the Germany-based media powerhouse RTL Television and Media Group RTL.
Japan's SoftBank Group Corp has led a $110 million financing round for Brazilian online home goods platform MadeiraMadeira, according to a statement on Tuesday. SoftBank's fresh capital for MadeiraMadeira comes from its $5 billion Latin America fund, launched in March, which has been directed to sectors ranging from banking and real estate to home goods and delivery services. Investment firm Light Street Capital is also participating in the funding round, alongside SoftBank and Flybridge Capital, which is already an investor in MadeiraMadeira.
(Bloomberg) -- After Lee Bird witnessed At Home Group Inc. lose half its market value in one day this June, the chief executive officer decided to reconsider everything.“This past 90 days has been a revisit of our whole business,” Bird said in an interview. “We obviously lost the faith of our investors.”In response, the home-goods retailer pulled back on its ambitious store-opening plans and revamped marketing to tout what it claims are the lowest prices in the industry. And after staying out of the e-commerce fray because the cost of implementation and shipping could hamper profit, the company now plans a full online offering by 2022.The efforts come none too soon, as a shakeout in retail has left legacy chains struggling to survive the arrival of digital-first competitors like Amazon.com Inc. and Wayfair Inc. Consumers at all income levels are also more discount-oriented, using the internet to seek out deals. At Home appeared immune to these woes until June 6 when weak sales and increased costs from President Trump’s tariffs on Chinese goods led to a cut in its earnings forecast that hammered the stock.“A long list of little things have gone against the company,” said Brad Thomas, an analyst at KeyBanc Capital Markets. “A few have been company specific, but it’s more about housing slowing down about a year ago.”At Home also had little room for error, with its valuation soaring after revenue gained an average 23% annually over the past three years. But investors bolted after the company’s same-store sales fell the past two quarters -- the first declines since going public three years ago. The company’s earnings have also missed analysts’ projections twice in the past three quarters.“It’s hard, but I get paid a lot of money so no one is going to tear up for me,” said Bird, who bought $500,000 worth of shares on Monday.The stock had declined 54% this year through Tuesday’s close. Just a year ago, the retailer sold additional stock to the public for $33.20 a share. The shares climbed as much as 7% to $9.16 on Wednesday, their fourth straight daily gain. The increase in value-driven shoppers should put At Home in a solid position. Much like Costco Wholesale Corp., the chain has a low-cost operating model -- it opens stores cheaply in locations vacated by the likes of Sears and about 70% of its inventory is private label or exclusive.Pricing ModelThat helps the retailer keep prices low, but not enough shoppers were getting the message because of “all the noise” on discounts and deals coming from competitors, Bird said. At Home uses a pricing model of everyday low prices -- a strategy popularized by Walmart Inc. that eschews promotions and instead tries to convince shoppers of constant value. Meanwhile, most retailers employ a model of high introductory prices and then discounts.“The average American is not aware that At Home is a low-price leader,” KeyBanc’s Thomas said.To help remedy this, At Home for the first time is running regular shopping events every two weeks, often tied to seasonal events. There’s currently a focus on fall decor on its website and in stores. A year ago, the chain would have been highlighting a few specific deals, but not a whole category. Early results are that it’s lifted sales, Bird said.Besides opening stores, revenue gains will also come from its first push online, he said. In the fourth quarter, the company will test letting customers buy items online and picking them up at stores. If all goes well, more locations will be added next year, with the goal of shipping purchases to customer’s homes from locations by 2022, he said.Despite the turmoil, the company still sees growing to 600 stores from 200 in the U.S. But it will get there at a slower pace, expanding 10% a year, down from a current rate of 17%. That means it would take more than a decade to reach that goal.“We know we have a huge white space in front of us,” Bird said. “I feel good about the adjustments we’ve made.”(Updates with share trading Wednesday in eighth paragraph. A previous version was corrected to show about 70% of inventory is private label or exclusive.)To contact the reporter on this story: Matt Townsend in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Lisa Wolfson, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
After almost 20 years as CEO of Overstock (NASDAQ:OSTK), Patrick Byrne resigned from the company and board August 22. The highly controversial leader's resignation caused OSTK stock to briefly jump by more than 15%. However, shares dropped to $15 by the beginning of September.Source: Shutterstock As I write this, Overstock stock has recovered most of those losses trading around $20. Still, it's well below its January 2018 all-time high of $89.80.My InvestorPlace colleague, Dana Blankenhorn, recently highlighted logistics consultant Brittain Ladd's belief that Byrne should have been fired years ago. It's hard to argue with that sentiment. Byrne was not the man or woman you would want running the local McDonald's (NYSE:MCD), let alone a company with more than 2,000 employees and revenues of more than $1.8 billion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPerhaps it was Byrne's family's relationship with Warren Buffett that kept the board at bay all these years. Or maybe it was Byrne's significant ownership stake in the company. Whatever the case, Byrne is gone from the company. Currently, Jonathan E. Johnson III, the head of its Medici Ventures blockchain subsidiary, is running Overstock on an interim basis. * 10 Stocks to Sell in Market-Cursed September Anybody but Byrne would be a better CEO at this point. As my colleague stated about OSTK in August, it's hard to see any future for the company. Or for that matter, Overstock stock.That said, I'm sure some would choose to speculate on OSTK stock.Is $15 the buy zone? Or should you wait for single digits? It Isn't Worth $15In March, I suggested that speculative investors might be interested in buying OSTK stock below $15. That's because Byrne might sell its hugely unprofitable retail business to focus on its blockchain investments.Of course, we know that never happened under Byrne's watch. But as recently as the end of June, the former CEO is on record suggesting offers were possible."Two very attractive acquirers that I would have put high up on my list have shown up," Byrne said June 25 at the Fortune Brainstorm Finance conference in Montauk, New York. "People have seen that our earnings have turned."How much could Overstock get for a business that saw revenues decrease by 23% in the second quarter while reducing its loss by 62%, from $64.9 million in the second-quarter 2018 to $28.2 million this past quarter?Wayfair's (NYSE:W) gross profit margin in Q2 was 23.9%. It trades at 1.4-times sales. In the latest quarter, Overstock's retail business had a retail gross margin of 19.7%. OSTK trades at 0.4-times sales.Let's assume that its retail business could go for halfway between Wayfair's multiple and its own. That would mean a multiple of 0.9 or $1.47 billion based on trailing 12-month revenue of $1.63 billion.This assumes that the company could find someone to buy its retail operations. Secondly, GARP Research analyst Bill Baker stated in February that he thought Overstock could fetch $100 million for its retail business, a far cry from $1.5 billion. OSTK Stock Below $10 Might Be A BuyLet's assume Overstock could get $100 million for its retail business. At a current market capitalization of $721 million, this suggests the blockchain businesses are worth $621 million or $17.64 a share.Medici and tZero generated tremendous losses in the second quarter from just $6.2 million in revenue. This means that the blockchain assets would have to be worth significantly more than what the balance sheet says they are or as a multiple of sales or earnings.Frankly, I don't think there's a hope in Hades that its blockchain assets are worth anywhere near $18 a share.However, below $10, a speculator might bet on those assets adding up to more than $350 million on a combined basis.With or without Patrick Byrne, I wouldn't go near OSTK stock unless "risk" is your middle name.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 * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post Is Overstock a Buy Below $10? appeared first on InvestorPlace.