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recessionCNBC
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77% Informative
Wayfair CEO Niraj Shah likened slowdown in the home goods category to 2008 financial crisis.
The e-tailer's finance chief Kate Gulliver said the declines it's seeing are "similar to the declines that we saw in that 2008 to 2010 period" The company reported a loss of $42 million , or 34 cents per share, in the three-month period that ended June 30 .
Wayfair fell short of Wall Street's expectations on both the top and bottom lines.
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