Wayfair on Thursday reported fourth quarter net revenue fell 11.4% year over year to $3.3 billion, while U.S. net revenue decreased 8.8% to $2.7 billion. Compared to 2019, however, net revenue increased 28.4%.
The retailer swung to a loss from a profit a year ago, posting a $196 million operating loss and $202 million net loss during the quarter, according to a company press release. Active customers fell 12.5% from last year to 27.3 million.
For the full year, the retailer reported net revenue fell 3.1% to $13.7 billion, while U.S. revenue fell 5.5% to $11.2 billion. Operating loss and net loss widened to $94 million and $131 million, respectively.
Source: Retail Dive
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