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wayfair shares jump: Online retailer Wayfair's shares jump on job cuts, upbeat 2024 core profit

The company said the job cuts, which affect 19% 0r 1,650 of its corporate employees, would lead to annual cost savings of $280 million. ....

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pepperfry results: Online furniture retailer Pepperfry reduces losses a tad to Rs 187.6 crore in FY23

Pepperfry had recorded operating revenue of Rs 246.9 crore in FY22, marking a 23% growth over FY21. ....

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Pepperfry Results: Online furniture retailer Pepperfry reduces losses a tad to Rs 187.6 crore in FY23, ET Retail

Pepperfry Results: During FY23, Pepperfry reduced its advertising and promotional expenses by over 10% on year to Rs 106 crore. Further, while it struggled to increase scale, order fulfilment costs, which include logistics and warehousing expenses, fell in the year to March 2023. Costs under this head fell to Rs 87.4 crore in FY23 from Rs 89.3 crore a year earlier. ....

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WoodenStreet to invest $5 mn on warehouse expansion; hire 300 people

Online furniture retailer WoodenStreet on Monday said it will invest around USD 5 million (over Rs 36 crore) and hire about 300 people as it looks to strengthen its supply chain and warehousing capacity.
The company plans to expand its current warehouse capacity by five-fold to a total of 50 lakh sq ft across India in the coming 24-36 months.
WoodenStreet plans to invest around USD 4-5 million to tackle this massive supply-chain and warehousing expansion - including hiring 250-300 individuals from logistics and supply-chain domain, a statement said.
The company had recently launched its largest national warehouse in Jodhpur with an area of more than 2.5 lakh sq ft. Currently, it maintains over 20 warehouses and distribution centres with a total area of 10 lakh sq ft spread across the country, it added. ....

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