UKRAINE – 2021/03/31: In this photo illustration, the Wayfair logo of the US e-commerce company seen displayed on a smartphone and a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)
As the second quarter is slated to close at the end of the month, Boston-based Wayfair Inc. provided an update on its progress to reach long-awaited profitability while also announcing a transition in a key executive seat.
The online furniture retailer said Wednesday that its gross revenue for the second quarter is "strengthening, and is now trending in the negative mid-single digit percentage range year-over-year." The reason for the improvement, according to Wayfair, is that total order growth turned positive year-over-year during the quarter that's about to end.
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