Wayfair Hits (W) New High as Strong Performance Bucks Tariff Threats

We recently published 10 Stocks Surprise With Double-Digit Gains; 4 Hit Record Highs. Wayfair Inc. (NYSE:W) is one of the companies that stood stronger last week.

Wayfair saw its share prices rally to a new all-time high on Monday as investors cheered its strong earnings performance in the second quarter of the year amid the threats of tariffs.

During the session, Wayfair Inc. (NYSE:W) touched a new 52-week high of $73.79 before paring gains to end the day just up by 12.66 percent at $73.48 apiece.

On the same day, the company announced swinging to a net income of $15 million in the second quarter of the year from a $42 million net loss in the same period last year.

Total net revenues increased by 5 percent to $3.273 billion from $3.117 billion. Excluding the impact of its exit from the German market, net revenues grew 6 percent year-on-year.

The first half, however, saw the company at a net loss of $98 million, albeit lower by 66 percent than the $290 million net loss in the same period last year. Net revenues inched up by 2.68 percent to $6 billion from $5.85 billion year-on-year.

“The second quarter was a resounding success, defined by accelerating sales and share gain, in tandem with expanding profitability. As we have discussed over the last few years, we can and will grow profitability, while taking a significant share in the market,” said Wayfair Inc. (NYSE:W) CEO Niraj Shah.

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