Wayfair’s Active Customers Shrink 2.5%, Revenue Growth Lags Sector

Wayfair shares had fallen 29% over six months to $72.00 as of June 2, 2026, and analysts caution the online furniture retailer faces multiple headwinds. Active customers declined 2.5% annually to 21.4 million in the latest quarter, while Wall Street projects only 5.3% revenue growth over the next year, below the sector average. The company’s gross margin averaged 30.2% over two years, reflecting a capital-intensive model that spent nearly $70 to generate $100 in revenue. Trading at 14.2 times forward EV/EBITDA, the stock may already price in optimistic scenarios, leading some analysts to recommend safer industrial stocks instead.