Similar to the Chinese market, in addition to the impact of the epidemic on the real economy, e-commerce has also ushered in a round of opportunities. According to statistics from the U.S. Department of Commerce, the nationwide retail sales without stores in August increased significantly by 22.4% year-on-year. Statistics agency Statista said that online traffic on home decor & furnishing platforms (home decor & furnishing) increased by 7%.
From the perspective of home furnishing exports, orders from pu ceiling cornice manufacturers that have deployed overseas e-commerce channels in advance are hardly affected, and even the lack of traditional manufacturers has greatly increased their business volume, especially E-commerce platforms such as Amazon, Wayfair, and Overstock have driven the growth of home furnishing export business.
Among them, although Wayfair cannot be said to be “resurrected from the dead”, the performance of the capital market since March is precisely because of the explosion of home online consumption under the epidemic. After its listing on the New York Stock Exchange on October 3, 2014, Wayfair’s stock price was depressed due to continued losses (a net loss of $985 million in 2019). However, the outbreak of the epidemic made Wayfair suddenly become a “sweet rice cake”. Since March, the stock price has continued to rise, from 21.7 US dollars all the way up, reaching a peak of 349 US dollars per share.
Revenue has also achieved substantial growth. As of the second quarter earnings report on June 30, 2020, Wayfair’s net income increased from US$2 billion to US$4.3 billion, an increase of 83.7% year-on-year. Net income in the United States increased by US$1.7 billion, an increase of 82.5% year-on-year, and international net income increased by US$310.2 million, an increase of 90.5% year-on-year. CEO, co-founder and co-chairman Niraj Shah (Niraj Shah) said that this quarter created more than $ 1 billion in free cash flow.
Post time: Oct-19-2020