Retailer & Marketplace Market: High-income shoppers drive Wayfair Q2 revenue gains

Wayfair reported stronger-than-expected Q2 results driven by higher-income shoppers and growth in its upscale Perigold banner. Overall Q2 revenue rose 7.5% year-over-year to $3.5 billion, while Wayfair posted a $1 million net loss versus $15 million net income in the prior-year period. Wayfair’s U.S. segment increased nearly 9% year-over-year; orders were up 6% year-over-year and more than 12% from Q1, and active customers grew to 21.7 million. Perigold grew by more than 35% in Q2 and its customers spend about three times what a typical Wayfair.com shopper spends annually. Wayfair said it has opened two Perigold stores, plans a Perigold loyalty program later in the year, and expects high-single-digit revenue growth and a 29.5%–30.5% gross margin in Q3.