Wayfair's losses widen despite soaring sales

Wayfair’s losses widened despite posting a surge in sales and a record-breaking promotional day in its first quarter.

The online retailer’s sales swelled 39% to $1.9bn (£1.5bn) during the three months to March 31 as pre-tax losses widened to $199,794m (£153,651m) from $107,775m (£82,878m) for the same period the previous year.

The homeware retailer’s active users rose 39% year on year to 16.4 million customers.

Wayfair chief executive and co-founder Niraj Shas said: “Our ongoing investments in building our logistics infrastructure, deepening our product offering and finding new ways to serve our customer are just a few of the many areas that are driving the momentum we are seeing today.”

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