Wayfair announces Q1 2022 performance results
In May of 2022, Wayfair announces first quarter results for 2022, ehibiting an 13.9% year-over-year decrease in total revenue to reach $3.0 billion, while the company also reported US revenue declined 9.9% during the same period. Though the company notes that results have been hampered by global supply chain contraints and wanning international demand, they anticpate total consumer demand remains strong as exhibited by the company's rising dollars per sale ration, however overall orders have declined marginally, driving the company's weakness in Q1 of 2022.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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