Homeware retailer Wayfair has recorded its strongest quarterly growth since the pandemic as it continues to push its profits after last year’s losses.

The third fiscal quarter brought $3.4 billion in revenue, up 9.7 per cent year on year, with profits of $62 million. The online-first company’s CEO and co-founder, Niraj Shah, credited the success to strong growth in orders.

“At the start of this year, we told you we expected to take share in the US at a pace we had not seen in several years,” Shah said. “With US revenue growing double digits against a roughly flat category here in Q3, we’ve done exactly that.

“That growth was driven by orders, which were up 12 per cent year-over-year, and active customers up more than 4 per cent. The momentum we have on orders and customers gives us confidence that our share gains are structural, and we are still in the early innings.”

Wayfair told investors that it recorded 22.2 million active customers in the quarter, with a net revenue per customer of $596.

Neil Saunders, the MD of market insights firm Global Data, called Wayfair’s results “proof” of resilience in the home furnishings industry.

“The sector is certainly challenging, but it has not experienced anywhere near the level of declines that have been reported in various places,” he said.

“The wider point here, and one that plays in Wayfair’s favor, is that while consumers remain interested and willing to spend on furnishings, their missions and the composition of what they buy have been changing.

“Big remodels and major resets of rooms have become less important – mainly because they involve spending large amounts of money – and smaller refreshes and upgrading key pieces have become more favorable.”