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Wayfair (W) earnings Q4 2025
Wayfair store in Wilmette, Illinois.
Courtesy: Wayfair
Wayfair‘s annual sales grew last year for the first time since 2020 as the online furniture company continues to win over value-seeking consumers, the retailer announced Thursday.
In 2025, Wayfair revenue grew 5.1% to $12.5 billion. The gains follow a more than 1% year-over-year decline in 2024.
The e-commerce giant also beat Wall Street’s expectations on the top and bottom lines for its fiscal fourth quarter and delivered better-than-expected adjusted earnings as stronger sales flowed through to the business.
“Q4 capped off a tremendous year for Wayfair,” said co-founder and CEO Niraj Shah. “… We had our third consecutive quarter of new customer growth, on top of healthy growth in repeat orders, all in the face of a category that contracted in the low single digits for the final quarter of the year. 2025 was a year where we returned to growth and accelerated throughout the year through a number of organic business strategies that can compound for years to come.”
Despite the sales growth and better-than-expected results, Wayfair shares dropped more than 10% in premarket trading Thursday.
Here’s how Wayfair did in its fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: 85 cents adjusted vs. 66 cents expected
- Revenue: $3.34 billion vs. $3.30 billion expected
In the three month period that ended Dec. 31, Wayfair reported a loss of $116 million, or 89 cents per share, compared with a loss of $128 million, or $1.02 per share, a year earlier. Excluding one-time items related to equity-based compensation and other one-time charges, Wayfair saw earnings per share of 85 cents.
For the second quarter in a row, Wayfair saw a meaningful gain in revenue. During the period, sales rose to $3.34 billion, up about 7% from $3.12 billion a year earlier.
While Wayfair has not posted an annual net profit since 2020, it is making gains in its adjusted earnings before interest, taxes, depreciation and amortization. During the quarter, Wayfair posted adjusted EBITDA of $224 million, ahead of expectations of $200 million, according to StreetAccount.
“Ultimately, this is the culmination of the work throughout 2025, which I think was a really pivotal year for us in proving out both our share gain story and our profit story,” finance chief Kate Gulliver told CNBC in an interview. “That resulted in both an incredibly strong quarter on the top line, where we continued to gain share despite a challenging macro, and then really nice flow through and significant growth on the adjusted EBITDA line.”
The company’s return to revenue growth over the last two quarters has helped its profitability. If the sales trends continue, the company expects to see more improvements to its bottom line.
Wayfair’s growth comes during a challenging time for the furniture industry, when tariffs, high interest rates and sluggish home sales are weighing on demand for new couches and kitchen tables. Consumers are still spending on these goods, but instead prioritizing value and lower prices, which Wayfair is positioned to offer through its wide network of manufacturers.
During the quarter, average order values increased to $301, up from $290 in the year-ago period, while the number of orders delivered grew at a similar pace. While prices have risen across the home goods sector, Wayfair’s volume trends are in line with its order values.
Over the last year, Wayfair has focused on improving its customer experience through its rewards program and initiatives like Wayfair verify, which stamps products that have the quality the company says it endorses. It also improved its website, said Gulliver.
“The combination of these customer facing initiatives, I think, has helped us take share in what we think was still quite a challenged category,” said Gulliver.
Business
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Disrupting tanker traffic or shutting the strait altogether is one way Iran might seek to retaliate against a possible American strike, analysts say, which is why oil prices have jumped alongside the U.S. military deployment in the region. Earlier this week, state-affiliated media in Iran said the strait would partially close for “security precautions.”
Brent prices rose more than 1% Thursday, adding to recent gains that have taken the global oil benchmark from less than $60 a barrel in early January to over $70 a barrel this week.
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U.S. steelmaker Steel Dynamics STLD 0.43%increase; green up pointing triangle and Australian conglomerate SGH submitted a sweetened offer for BlueScope Steel BSL 0.73%increase; green up pointing triangle that values its equity at roughly US$11 billion, and said they wouldn’t raise it again unless a rival bidder emerges.
The new bid intensifies a takeover campaign dating back months when Steel Dynamics tried to get BlueScope, which has operations in 14 countries including the U.S. and Australia, to agree to a deal. Those earlier approaches were rebuffed and Steel Dynamics teamed up with SGH late last year to try to buy the company. BlueScope on Wednesday said it is considering the pair’s revised proposal.
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From Royal Prince to Recent Arrest
Andrew Mountbatten-Windsor, formerly known as Prince Andrew, Duke of York, marked his 66th birthday on February 19, 2026, under dramatically different circumstances than in years past. On the same day, British police arrested him on suspicion of misconduct in public office, linked to revelations from Jeffrey Epstein-related documents. The arrest, carried out by Thames Valley Police at his residence on the Sandringham Estate in Norfolk, caps a years-long fall from grace for the brother of King Charles III.

Once second in line to the British throne and a decorated naval officer, Mountbatten-Windsor has seen his royal titles stripped, his public role diminished and his reputation tarnished by associations with the late convicted sex offender Jeffrey Epstein. He has consistently denied any wrongdoing, including sexual misconduct allegations.
Here are 10 essential facts about Andrew Mountbatten-Windsor, drawing on his background, career, family and the latest developments as of February 2026.
- Full Name and Birth Details Born Andrew Albert Christian Edward on February 19, 1960, at Buckingham Palace in London, he is the third child and second son of Queen Elizabeth II and Prince Philip, Duke of Edinburgh. As a direct descendant, he adopted the surname Mountbatten-Windsor — the hyphenated family name established for Queen Elizabeth II’s children — following the removal of his princely title in late 2025. He was the first child born to a reigning British monarch since Queen Victoria’s daughter Princess Beatrice in 1857.
- Early Royal Status and Line of Succession At birth, Mountbatten-Windsor was second in the line of succession to the British throne, behind his elder brother Charles (now King Charles III). Following Queen Elizabeth II’s death in 2022 and subsequent changes, he remains in the line — currently eighth — despite no longer holding royal titles or performing official duties. His position persists because removal from the succession requires specific parliamentary action under the Succession to the Crown Act.
- Military Career in the Royal Navy Mountbatten-Windsor joined the Royal Navy in 1979 and served during the 1982 Falklands War, flying helicopter missions from HMS Invincible. He later became a helicopter instructor and commanded the warship HMS Cottesmore. His service earned praise, contrasting sharply with later controversies. He retired from active duty in 2001 after 22 years.
- Marriage to Sarah Ferguson In 1986, he married Sarah Ferguson, who became the Duchess of York. Queen Elizabeth II created him Duke of York, Earl of Inverness and Baron Killyleagh on their wedding day — titles historically linked to his maternal grandfather King George VI and great-grandfather King George V. The couple separated in 1992 amid tabloid scrutiny and divorced in 1996, though they have maintained an amicable post-divorce relationship.
- Daughters: Princess Beatrice and Princess Eugenie The marriage produced two daughters: Princess Beatrice (born August 8, 1988) and Princess Eugenie (born March 23, 1990). Both retain their princess titles as grandchildren of a sovereign in the male line, despite their father’s stripped status. Beatrice, 37, is married to Edoardo Mapelli Mozzi and has two daughters; Eugenie, 35, is married to Jack Brooksbank and has two sons. The daughters remain non-working royals and have stayed largely out of the spotlight amid family controversies.
- Role as UK Special Representative for International Trade From 2001 to 2011, Mountbatten-Windsor served as the United Kingdom’s Special Representative for International Trade and Investment. The unpaid role involved promoting British business abroad but drew criticism for his expenses and associations. He stepped down in 2011 amid scrutiny over his Epstein ties.
- Association with Jeffrey Epstein Mountbatten-Windsor’s long-standing friendship with Epstein, who died in 2019 while awaiting trial on sex-trafficking charges, became central to his public downfall. He faced allegations of sexual abuse from Virginia Giuffre, which he has denied. A 2019 BBC Newsnight interview, where he defended his Epstein connection and denied Giuffre’s claims, was widely criticized and led to his withdrawal from public royal duties in November 2019.
- Stripping of Royal Titles In early 2022, Queen Elizabeth II stripped him of his military affiliations and use of “His Royal Highness” style amid the Giuffre lawsuit. He settled the civil case out of court later that year. In late 2025, King Charles III revoked remaining titles, including Duke of York. He now lives privately, recently relocating from Royal Lodge in Windsor to Wood Farm on the Sandringham Estate.
- Recent Arrest on Misconduct Charges On February 19, 2026 — his 66th birthday — Thames Valley Police arrested Mountbatten-Windsor on suspicion of misconduct in public office, an offense carrying a maximum life sentence. The arrest relates to allegations he shared confidential government or trade information with Epstein during his envoy role before 2011, based on recent Epstein file revelations. Police searched properties in Berkshire and Norfolk, and he remains in custody. He has denied any wrongdoing, with supporters noting the allegations stem from old associations.
- Current Status and Family Impact No longer a working royal, Mountbatten-Windsor lives quietly but faces ongoing legal scrutiny. His arrest has renewed debate over royal accountability and the Epstein scandal’s reach. His daughters’ titles and succession places remain unchanged, preserving their status as King Charles III’s nieces. The family has maintained a low profile, with ex-wife Sarah Ferguson occasionally speaking publicly in support.
The developments underscore a stark transformation for a once-prominent royal figure. As investigations continue, Mountbatten-Windsor’s future remains uncertain amid calls for transparency in royal and public office conduct.
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