(Bloomberg) — Wayfair Inc. soared to a record high Tuesday after investors cheered the company’s profitability forecast and demand trends as the coronavirus pandemic drives more consumers to shop online.Executives of the home-good retailer said on a conference call that the adjusted margin for earnings before interest, taxes, depreciation and amortization would turn positive this quarter compared with the negative 5.5% reported for the first quarter. The shares surged as much as 35% to $181.39, the highest intraday level since the company went public in 2014.Results will be driven by expanding gross margin, more efficient marketing and gaining a better …read more
Source:: Yahoo Finance
