For the three months ended December 31, Wayfair posted net revenue of $984.6 million but a net loss of $44 million, or 51 cents per share, versus net revenue of $739.8 million and a net loss of $15.5 million, or 18 cents per share, in the year-earlier period.
Adjusted net loss was $29.2 million, or 34 cents per share, versus $5.7 million, or seven cents per share, in the quarter a year prior.
Although sales and gross profit increased in the fourth quarter year over year, Wayfair reported significantly higher operating expenses, with advertising costs alone gaining almost $28 million. Direct retail net revenue, sales generated primarily through Wayfair’s five sites, increased 39.9% to $959.million in the quarter year over year, the company maintained.
For the full fiscal year, Wayfair posted net revenue of $3.38 billion but a net loss of $194.4 million or $2.29 per share, versus net revenue of $2.25 billion and a net loss of $77.4 million, or 92 cents per share, in the year-earlier period.
Adjusted net loss was $141.8 million, or $1.67 per share, versus $47.4 million, or 57 cents per share, in the quarter a year prior. Direct retail net revenue increased 59.7% to $3.3 billion in the quarter year over year, the company stated.
