Architecture Billings Index Signals Slow Start in 2024; Wayfair's Stock Rises Despite Challenges, Multi-family Billings Decline
The Architecture Billings Index indicates sluggish conditions at the start of 2024, with multi-family billings declining for the 18th consecutive month. Wayfair posts a narrower-than-expected loss and gains in active customers, leading to a rise in its stock. Despite some strength in the higher-end furniture market, Wayfair faces challenges due to the soft housing market and Covid-related comparisons.
Sources
Yahoo Finance
A soft housing market has weighed on the home improvement sector over the past year, and signs of a turnaround could remain elusive in 2024, according to the country's biggest home improvement retailer. https://t.co/A8crJ8DFB7
Bluechip$W Wayfair Still seeing softness... no surprise here! https://t.co/JpYS1MjABz
Rahul SharmaWayfair calls out strength at higher end of furniture. This may be true, but probably proves point about weakness being largely Covid compares. Plenty of tailwinds behind lower end demos now as real incomes improve & no other reasons to worsen. $W $XLY $RH $WSM $HD https://t.co/WVzEYCCbhp https://t.co/hBLOiNq0lO
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