Wayfair Inc. (NYSE:W) Q4 2019 Earnings Conference Call - Final Transcript

Feb 28, 2020 • 08:00 am ET


Wayfair Inc. (NYSE:W) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning, my name is Amy, and I will be your conference operator today. At this time, I would like to welcome everyone to the Wayfair Q4 2019 Earnings Release and Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. Jane Gelfand, Head of Investor Relations and Special Projects, you may begin your conference.

Jane Gelfand

Good morning and thank you for joining us. Today, we will review our fourth quarter 2019 results. With me are Niraj Shah, Co-Founder, Chief Executive Officer and Co-Chairman, Steve Conine, Co-Founder and Co-Chairman, and Michael Fleisher, Chief Financial Officer. We will all be available for Q&A following today's prepared remarks.

I would like to remind you that we will make forward-looking statements during this call regarding future events and financial performance, including guidance for the first quarter of 2020. We cannot guarantee that any forward-looking statements will be accurate, although we believe that we have been reasonable in our expectations and assumptions. Our 10-K for 2019 and our subsequent SEC filings identify certain factors that could cause the Company's actual results to differ materially from those projected in any forward-looking statements made today. Except as required by law, we undertake no obligation to publicly update or revise these statements, whether as a result of any new information, future events, or otherwise.

Also, please note that during this call, we will discuss certain non-GAAP financial measures as we review the Company's performance. These non-GAAP financial measures should not be considered replacements for and should be read together with GAAP results. Please refer to the Investor Relations section of our website to obtain a copy of our earnings release, which contains descriptions of our non-GAAP financial measures and reconciliations of non-GAAP measures to the nearest comparable GAAP measures. This call is being recorded and a webcast will be available for replay on our IR website.

I would now like to turn the call over to Niraj.

Niraj Shah

Thanks, Jane, and good morning, everyone. We're pleased to speak with you all today. This juncture in our history is particularly interesting, given we just celebrated five years as a public Company and closed out an exciting decade of transformation and progress. Wayfair's journey thus far has been remarkable, but in truth, we're even more enthusiastic about the opportunity ahead. In many ways, we think what is to come will be even more exciting, as we solidify our position as the leader in the home category and begin to reap the benefits of our large strategic investments. To that end, we're using the opportunity of this year-end to reach you, not just through this conference call, but also through our annual shareholder letter posted on our IR website. We hope that you'll take the time to read the letter, since in it we share some longer-term reflections on our history and we talk about our operating philosophy and priorities as we look ahead to