Dive Brief:
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Wayfair Inc., in its first post-IPO financial report, said that its revenue, average order value, and number of active customers are all up. The e-retailer said it is launching a fleet of Wayfair branded delivery vehicles in New York City.
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The e-retailer of home goods, furniture, and office supplies, whose brands and sites include Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane, went public last month.
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Q3 sales rose 57.1% over last year, up from $182 million to $285.2 million. But losses widened, sending shares tumbling.
Dive Insight:
Wayfair says it has focused on marketing and building up its brand, and that its steady flow of personalized emails have grown sales. But it remains to be seen whether those investments will eventually pay off enough to woo investors back.