Optimist LP Fund and Optimist Trust Fund, managed by BloombergSen Inc. on Wayfair Inc.
Thesis
Wayfair delivered high-single-digit revenue growth and material EBITDA expansion in the quarter. After visiting the new Columbus store, Optimist became more convinced that physical retail can become a material future growth driver, and the company continues to announce new locations. The second store in Atlanta is tracking well ahead of the first, reinforcing the fund’s expectation of a continued growth inflection.
“We are excited about a continued growth inflection on the horizon.”
Key risks
- Physical-retail expansion may not scale as expected
- The expected growth inflection may take longer to materialize