As many retailers have taken a financial hit during the COVID-19 pandemic, Wayfair has managed to turn its losses around. In February, the retailer disclosed a net loss of $330.2 million, up from $143.8 million the year prior, and laid off about 550 staffers. But as of early August, the company saw a nearly 84% jump in sales catalyzed in part by the coronavirus pandemic, and recorded net income of almost $274 million. In September, Wayfair hired Fiona Tan, a previous Walmart exec, to serve as its head of global customer and supplier technology.
