Wayfair Inc. (W - Free Report) aims to further expand its operations in Georgia. The company plans to open a new industrial center in the Savannah.
The new facility, which will span 1.1 million square foot, is expected to be opened in April 2019.
The online home goods retailer is looking to hire people and planning to add approximately 1,000 new jobs at its new center. The jobs will include positions in supervisory, administrative and warehouses.
These facilities are likely to better cater to customers’ needs and enhance other related services.
Share Price Performance
Shares of Wayfair have outperformed its industry on a year-to-date basis. The stock has registered a gain of 32.3% compared with the industry’s growth of 5.6% in the said period.
We believe that the company is being driven by logistics and international expansion.
Wayfair is well positioned to take advantage of the home furnishing retail market. We remain positive about the company’s market position, product selection and expanding customer base.
In the logistics space, Wayfair has been making changes to its fulfillment model for ensuring faster delivery of products. At the end of 2017, the company had about 7.5 million square feet of space (up from 1 million square feet in 2016) in the United States and Europe, across its CastleGate facilities and Wayfair Delivery Network (WDN) centers that are huge.
Also, the company has been trying its best to improve strategies related to international expansion. In this regard, Wayfair is building international infrastructure, expanding international supplier network and establishing brand presence in select countries.
Zacks Rank & Stocks to Consider
Wayfair currently carries at a Zacks Rank #4 (Sell). Some better-ranked stocks in the broader technology sector include AMETEK, Inc. (AME - Free Report) , QuinStreet, Inc. (QNST - Free Report) and Stamps.com Inc. (STMP - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for AMETEK, QuinStreet and Stamps.com is currently pegged at 11.18%, 25% and 15%, respectively.
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