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Wayfair Inc (NYSE:W) shares are trading higher by 8.0% to $48.37 during Friday’s session as furniture and home goods stocks rise in possible sympathy with RH after the company reported second-quarter financial results.
What Happened: RH’s stock surged after reporting stronger-than-expected second-quarter earnings, with EPS of $1.69 surpassing analyst estimates of $1.56. Sales also exceeded expectations, growing 3.64% year-over-year to $829.65 million.
CEO Gary Friedman highlighted increased demand, which rose 7% in second-quarter and accelerated into third-quarter, with August up 12%. RH raised its revenue growth forecast for both third-quarter and the fiscal year.
Why This Matters To Wayfair: RH’s report suggests a recovery in consumer demand for home furnishings, indicating that the sector is rebounding despite challenges in the housing market. This could boost investor sentiment across the home furnishings industry, including Wayfair.
RH also mentioned improving product margins, signaling that supply chain pressures may be easing. If this trend extends to Wayfair, it could result in stronger financial performance and higher profitability for the company.
Read Also: Oracle Quietly Gains Momentum While Nvidia, Meta Dominate AI Spotlight
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Wayfair’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, W has a 52-week high of $76.18 and a 52-week low of $38.02.
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