W | Wayfair Lightning Rod Black Book

Takeaway: Given the controversy around W, we’re releasing a stand-alone Black Book to stress test the increasingly divergent Bull vs Bear cases

Given the controversy around Wayfair, we’re releasing a stand-alone Black Book on Monday, September 14th to stress test the increasingly divergent Bull vs Bear cases. We’ll host a call and presentation at 1pm ET.


As background, we published a 90-page Black Book on the entire Home Furnishings industry last week and included our view that Wayfair probably does not need to exist, and is unlikely to turn a profit -- ever. To say that this view proved to be a lightning rod is probably an understatement, especially given the controversy inherent to the name.


As such, we’ve been peeling back the layers of this story, and will release a stand-alone Black Book that scrutinizes every line of the Wayfair financial model.

We’ll detail over TRADE, TREND and TAIL durations where we are coming out on items including the following…


1) Market size, by category

2) Revenue capacity and trajectory

3) Customer acquisition costs, customer profitability, and churn

4) Eventual landing place for Gross Margins

5) Operational infrastructure, and capital needed to break even

6) The difference in how this name is being viewed by Retail analysts vs Internet analysts

7) Plus much more…


Participating Dialing Instructions

Toll Free:


Confirmation Number: 13619412

Materials: CLICK HERE


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