Wayfair CEO Says Furniture Business Similar Now to Great Financial Crisis

Key Takeaways"Customers remain cautious in their spending on the home," according to Wayfair CEO Niraj Shah. The furniture retailer's third-quarter guidance, to a decline in the low single digits, was lower than analysts expected. Second-quarter revenue fell 1.7% year-over-year. People aren’t buying furniture to a degree that hasn’t been felt since the Great Recession of 2008, according to Wayfair's (W) CEO. Shares of the online home furnishings retailer dropped after the company’s second-quarter results we ...