September 5, 2024
BOSTON – Wayfair Inc. posted total net revenue of $3.1 billion for the second quarter ended June 30, 2024). The revenue tally is a decrease of $54 million—down 1.7% year over year. Gross profit was $941 million, or 30.2% of total net revenue.
“Q2 was a dynamic quarter that resulted in another period of share gain, amid continued macro headwinds that are pressuring the ways customers are shopping the category,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “Customers remain cautious in their spending on the home, and our credit card data suggests that the category correction now mirrors the magnitude of the peak to trough decline the home furnishing space experienced during the great financial crisis.
“Every action we’ve taken, every goal we’ve prioritized, and every dollar we’ve spent has been considered under the intense scrutiny of our high expectations for return-on-investment,” Shah continued. “Even with the challenging macro, this was our best quarter of Adjusted EBITDA and Free Cash Flow generation in three years, clear evidence of our strict operating discipline. We are running the business with the goal of demonstrating substantial growth in profitability this year, even as the top line remains challenging. And that will be our mindset every year going forward as well.”
New Exec At Auctane
AUSTIN – Auctane, a global company that delivers shipping and mailing through brands like ShipStation, Stamps.com, Metapack, and Packlink, has appointed Laura Goldberg as its new chief marketing officer (CMO). Goldberg excels in crafting data-driven marketing strategies that resonate with customer needs, and her expertise will be key in advancing Auctane’s mission to deliver exceptional shipping and mailing experiences to businesses worldwide.
Previously, Goldberg was the CMO at Constant Contact, a digital marketing platform trusted by millions of small businesses and nonprofits. She has also held marketing leadership positions at Kabbage, an American Express Company, and LegalZoom, where she played key roles in driving customer growth, revenue expansion, and EBITDA improvements, leading to successful exits for both companies.
“Auctane is entering an exciting phase of growth, and Laura’s appointment as CMO is crucial to driving our marketing initiatives forward,” said Al Ko, CEO of Auctane. “Laura’s ability to translate data into actionable strategies, coupled with her experience leading high-performing teams, will propel us forward. With Laura’s vision, we can empower more businesses with best-in-class delivery experiences.”
“Joining Auctane is an incredible opportunity to be part of a forward-thinking team that’s transformed ecommerce, shipping, and mailing for millions globally,” said Goldberg. “I look forward to working alongside this team and bringing my own expertise, as we set our sights on future growth in this exciting, evolving industry.”
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