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Wayfair Inc. (NYSE:W) shares are trading lower on Thursday, even as solid growth and improving profitability in the first quarter couldn’t shake concerns about demand volatility in the home furnishings market.
• Wayfair stock is feeling bearish pressure. Why is W stock falling?
What Happened
The company reported first-quarter adjusted earnings per share of 26 cents, in line with the analyst consensus estimate. Quarterly sales of $2.90 billion (+7.4% year over year) outpaced the Street view of $2.89 billion.
U.S. net revenue of $2.6 billion increased 7.5% year over year, while International net revenue of $319 million increased 6% year over year.
Adjusted Gross Profit in the quarter …
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