Wayfair Inc. W aims to further expand its operations in New York. The company plans to open a new customer service center in the state. The new facility is expected to open by this summer.
These facilities are important in order to better cater to its customers' needs and enhance distribution services.
Coming to the share price, Wayfair's stock has steadily treaded higher in the past year. The stock has returned 80.7% compared with the industry 's growth of 66.7%.
We believe that the company is being driven by logistics and international expansion.
More on the Headlines
The online home goods retailer said that the new customer service center will be located in Big Flats, New York. The facility will allow the company to serve many new customers.
In this regard, the company's service organization earned the Silver Stevie Award in the Customer Service Department of the Year retail category. The company was also named as one of the Best Places to Work in Retail by Fortune Magazine.
In addition, Wayfair is looking to hire people across the state and planning to create more than 450 new jobs at its new center. The jobs include positions in management, sales and customer service functions.
Wayfair is well positioned in the home furnishing retail market. We remain positive about the company's market position, product selection and expanding customer base.
In the logistics space, Wayfair has been making changes to its fulfillment model for delivering products faster. At the end of 2017, the company had about 7.5 million square feet of space (up from 1 million square feet in 2016) in the United States and Europe, across its CastleGate facilities and Wayfair Delivery Network (WDN) centers that are huge.
Also, the company has been trying its best to improve strategies related to its international expansion. In this regard, Wayfair is building international infrastructure, expanding international supplier network and establishing brand presence in select countries.
Wayfair Inc. Price and Consensus
Wayfair Inc. Price and Consensus | Wayfair Inc. Quote
Zacks Rank & Stocks to Consider
Wayfair carries at a Zacks Rank #4 (Sell).
A few better-ranked stocks in the technology sector are Teradyne TER , PetMed Express PETS and Brady Corporation BRC . While Teradyne sports a Zacks Rank #1 (Strong Buy), Brady Corporation and PetMed carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Long-term earnings per share growth rate for Teradyne, PetMed and Brady Corporation is projected to be 12%, 10% and 7.5%, respectively.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PetMed Express, Inc. (PETS): Free Stock Analysis Report Wayfair Inc. (W): Free Stock Analysis Report Brady Corporation (BRC): Free Stock Analysis Report Teradyne, Inc. (TER): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research