Wayfair CEO Warns of Home Goods Sales Plunge to 2008 Recession Levels

Consumers remain cautious on home spending amid economic challenges, impacting Wayfair's revenue and stock performance.

Wayfair's Q2 revenue fell 2% year-over-year to $3.12 billion, with a $42 million loss.
CEO Niraj Shah compares current sales decline to the Great Financial Crisis of 2008.
Company shares dropped over 8% after earnings missed Wall Street expectations.
Wayfair has implemented significant layoffs and discounts to attract customers.
Potential interest rate cuts by the Federal Reserve could offer future relief.