Wayfair's Stock Is Up After Reporting a Major Holiday Sales Boost - NBC Boston
BostInno

BostInno

Tech, startups, higher ed, lifestyle and more

Wayfair's Stock Is Up After Reporting a Major Holiday Sales Boost

Find NBC Boston in your area

Channel 10 on most providers

Channel 60 and 8 Over the Air

    processing...

    NEWSLETTERS

    Wayfair's Stock Is Up After Reporting a Major Holiday Sales Boost

    This year has been kind of a bumpy road for Wayfair's stock, but Wednesday is proving to be a good day for the Boston-based home goods ecommerce company — and it has strong holiday sales to thank.

    Wayfair said on Wednesday that Cyber Money was the strongest sales day in the company's history. The company also said direct retail gross sales grew 52 percent year-over-year, with total gross sales growing 46 percent, in the five-day holiday shopping period between Thanksgiving and Cyber Monday. Nearly 60 percent of holiday sales were made by repeat customers, the company added.

    The company's stock price was up nearly 5 percent to $36.45 at market close on Wednesday.

    While investors have not always been impressed with Wayfair's financials this year — namely its growing losses — 2016 has been a momentous year for the company. The company has launched virtual reality and augmented reality apps with the aims of providing a more immersive shopping experience, and it's starting a "fully shoppable" TV series on Lifetime.

    More stories: