Zacks Investment Research | Mar 22, 2018 10:15PM ET
Wayfair Inc. (NYSE:W) aims to further expand its operations in New York. The company plans to open a new customer service center in the state. The new facility is expected to open by this summer.
These facilities are important in order to better cater to its customers’ needs and enhance distribution services.
Coming to the share price, Wayfair’s stock has steadily treaded higher in the past year. The stock has returned 80.7% compared with the industry ’s growth of 66.7%.
We believe that the company is being driven by logistics and international expansion.
More on the Headlines
The online home goods retailer said that the new customer service center will be located in Big Flats, New York. The facility will allow the company to serve many new customers.
In this regard, the company’s service organization earned the Silver Stevie Award in the Customer Service Department of the Year retail category. The company was also named as one of the Best Places to Work in Retail by Fortune Magazine.
In addition, Wayfair is looking to hire people across the state and planning to create more than 450 new jobs at its new center. The jobs include positions in management, sales and customer service functions.
Bottom Line
Wayfair is well positioned in the home furnishing retail market. We remain positive about the company’s market position, product selection and expanding customer base.
In the logistics space, Wayfair has been making changes to its fulfillment model for delivering products faster. At the end of 2017, the company had about 7.5 million square feet of space (up from 1 million square feet in 2016) in the United States and Europe, across its CastleGate facilities and Wayfair Delivery Network (WDN) centers that are huge.
Also, the company has been trying its best to improve strategies related to its international expansion. In this regard, Wayfair is building international infrastructure, expanding international supplier network and establishing brand presence in select countries.
Zacks Rank & Stocks to Consider
Wayfair carries at a Zacks Rank #4 (Sell).
A few better-ranked stocks in the technology sector are Teradyne (NYSE:TER) , PetMed Express (NASDAQ:PETS) and Brady Corporation (NYSE:BRC) . While Teradyne sports a Zacks Rank #1 (Strong Buy), Brady Corporation and PetMed carry a Zacks Rank #2 (Buy). You can see Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.