Bloomberg Businessweek Bloomberg Businessweek Weekend - February 20th, 2026
Feb 21, 2026
Amanda Frazier, Forbes Travel Guide standards chief, on service-weighted ratings and the world’s first Forbes five-star cruise. Juliet Feld Grossman, Feld Entertainment CEO, on touring logistics, merchandise and ticket economics. Amanda Moll, Bloomberg reporter, on corporate silence under political pressure. Dana Telsey, retail analyst, on consumer spending, delinquencies and retailer winners. Kate Gulliver, Wayfair CFO, on AI personalization, stores and customer trends.
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Wayfair's Momentum Outpaced Category Weakness
- Wayfair reported improved profitability with 7% revenue growth and ~60% EBITDA increase year-over-year.
- Kate Gulliver says momentum and market-share gains drove the results despite a pressured category.
Active Customers Can Lag True Demand
- Wayfair's active-customer metric lags and was affected by exiting Germany, so short-term counts understate demand.
- Gulliver emphasizes focusing on controllable share gains that have outstripped the category.
K-Shaped Demand Within Home Retail
- Wayfair sees a K-shaped divergence: higher-net-worth and specialty brands grew strongly while big-ticket furniture remains softer.
- Lower-ticket decorative items outperformed higher-ticket furniture in the category.