Online furniture seller Wayfair Inc. turned a profit for the first time since going public in 2014, breaking a string of losses, as more house-bound online shoppers bought home goods during the pandemic—a trend so new and volatile that Chief Executive Niraj Shah said it’s hard to predict whether it will last.
The company posted a $274 million profit on an 84% jump in sales to $4.3 billion. Wayfair joins the ranks of big retailers benefiting from a massive shift in consumer spending to online shopping during the coronavirus..
Source: WSJ
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