Shares of Wayfair (NYSE: W) crashed in morning trading on Thursday after the furniture and home goods retailer’s losses widened with an adjusted loss of $1.71 per share in the fourth quarter versus a loss of $0.92 in the same quarter last year. This loss was worse than analysts’ expectations of a loss of $1.62 per share.
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Total revenues declined by 4.6% year-over-year to $3.1 billion versus consensus expectations of $3.07 billion.
When it comes to its operating metrics, the company’s active customers dropped by 5 million year-over-year to 22 million in Q4 while orders delivered fell by 1 million year-over-year to 11 million. However, the average order value per active customer rose to $283 in Q4 versus $269 in the same period last year.
Overall, Wall Street analysts are cautiously optimistic about Wayfair stock with a Moderate Buy consensus rating based on eight Buys, 12 Holds and two Sells.