Retailer Wayfair Only Has 1 Store

By Douglas A. McIntyre Published Apr 19, 7:05AM EDT

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Retailer Wayfair Only Has 1 Store — © Suwaree Tangbovornpichet / Getty Images

Wayfair Inc. (NYSE: W | W Price Prediction) only has one store. The online furniture company is just about to open that Wayfair store. All of the company’s $12 billion in revenue last year came through e-commerce.

The location will have furniture, home decor, housewares, and home improvement products. The Wayfair store will cover 150,000 square feet in Edens Plaza in Wilmette, Illinois. The company says it will have merchandise for “any style space or budget.” It is not clear why Wayfair picked Wilmette, a town north of Chicago. (See the 16 best alternatives and affordable options to IKEA.)

The company is in trouble, and it is not clear how a single Wayfair store would help it. Revenue last year dropped 2% to $12 billion. The company remains crippled by losses. Last year, it lost $738 million, compared to a loss of $1.3 billion in the year before.

Based on Wayfair’s 2023 results, Niraj Shah, CEO, co-founder and co-chair of the board, made a comment that did not make sense:

Our efforts over 2023 led to large improvements in our core recipe across availability, speed and price competitiveness. These improvements were directly responsible for our robust share expansion throughout the year and for the step-up we saw in customer loyalty, including year-over-year growth in our active customer count by the fourth quarter.

None of his list of changes showed up at the top or bottom line.

So far this year, Wayfair stock is down 11% to about $55 a share, while the broader market is up 5%.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.