Optimist Fund on Wayfair Inc.
Thesis
Wayfair delivered another strong quarter with high-single-digit revenue growth and material EBITDA expansion. After visiting the company's new Columbus store, the fund became increasingly convinced that physical retail can become a material future growth driver. Wayfair continues to announce new locations, and its second store in Atlanta is tracking well ahead of the first store, which was itself already exceeding expectations. The fund therefore expects a continued growth inflection.
“We are excited about a continued growth inflection on the horizon.”