Episode summary
Bloomberg Businessweek Weekend - February 20th, 2026 | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec
Summary
Wayfair’s latest quarter was framed as evidence that the home-furnishings market is still under pressure but that the company is gaining share anyway. Its CFO said revenue rose about 7% year over year, adjusted EBITDA improved sharply, and first-quarter guidance points to mid-single-digit growth even as the broader category remains weak. The discussion centered on a cautious consumer, softer active-customer trends, selective strength among higher-income shoppers, and Wayfair’s use of buy now, pay later, physical stores, and generative AI to improve conversion and personalization.
Retail analyst Dana Telsey widened the lens to the broader consumer, arguing that the U.S. is still in a K-shaped economy: premium brands and off-price chains are holding up better than more vulnerable discretionary names. She pointed to still-rising delinquencies, a weak December retail sales print, and tariff pressure in the first quarter, while saying newness in product and store formats can still drive demand. She highlighted the Olympics, Gap’s comeback, Amazon’s role, and why TJX remains one of the strongest names in retail.
The program also examined why major companies have stayed quiet on Trump-era politics, with Amanda Maul arguing that corporations have always pursued self-interest and now fear retaliation. In the second hour, Babel said Bad Bunny’s Super Bowl halftime show drove a massive spike in Spanish-learning signups, Coursera discussed its planned merger with Udemy and a growing demand for AI-related courses, and Feld Entertainment said discretionary spending on live family entertainment is holding up despite tariff pain.
Key takeaways
- Wayfair’s CFO said the company exited 2025 with 7% revenue growth and expects mid-single-digit growth in Q1 despite category weakness.
- Dana Telsey said the consumer is still split between higher-end strength and pressure at the low end, with delinquencies rising but not yet accelerating sharply.
- Telsey said tariffs matter in the first quarter, but the bigger story is product newness and retail reinvention at names like Gap, Victoria’s Secret, and TJX.
- Amanda Maul argued that corporations are acting cautiously under Trump because they are weighing shareholder duties against the risk of political retaliation.
- Babel said Bad Bunny’s Super Bowl halftime show sent Spanish signups to almost 85% of daily volume and lifted total signups about 4x.
- Feld Entertainment’s CEO said live family entertainment is benefiting from colder weather and pent-up demand even as tariffs have increased costs.
Notable quotes
“we feel really great about the quarter we just reported. I think it highlighted and capped off a year of incredible momentum for us”
“the category itself, um, we think was down low single digits um, in the fourth quarter”
“We're seeing a few trends. So, so you mentioned some of the sort of luxury peers”
“It was weaker after Black Friday to Christmas. It only picked up like the week before Christmas”
“corporations sort of trying to, you know, wiggle out of this mess by saying we're not political”
How the episode opens
This is Bloomberg Business Week Daily, reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. Bloomberg Business Week Daily with Carol Masser and Tim Stenc on Bloomberg Radio.
Hi everyone, welcome to the weekend edition of Bloomberg Business Week. Earning season is not quite done yet. a lot of consumer-facing companies out with results including Wayfair and Walmart this past week. — We catch up with Wayfair CFO Kate Guliver on the supply chain and how consumers are spending. The world's largest physical retailer reported two this week. Walmart issued a forecast for fullear earnings that missed higher expectations flagging the unpredictable state of trade and labor market conditions. We go around the retail space with a great analyst and look at how retailers are keeping customers interested and how they're using technology to keep up with demand and compete with Amazon.
Plus, President Trump has called bluff on the era of the good corporate citizen. Leaders of businesses from Hilton to Home Depot and more have been largely silent, dearing or hedging when prompted to criticize President Trump. We talk corporate complicity.
And in our second hour, pop music sensation Bad Bunny driving people to learn Spanish. We catch up with the CEO of Babel. — We begin with earnings and a read on the consumer. Thanks to Wayfair CFO Kate Guliver, who shared what her company's earnings can tell us about the health of the shopping public.
Maybe let's step back and and sort of speak to the quarter we just reported, then I'm happy to to shift to guidance. Um, you know, we feel really great about the quarter we just reported.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- global technology
- global politics
- economics
- business news
- markets
Watch the episode
Watch “Bloomberg Businessweek Weekend - February 20th, 2026 | Bloomberg Businessweek” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
More from Bloomberg Businessweek Daily
-
Bloomberg Businessweek Weekend - November 13th, 2026 | Bloomberg Businessweek -
Inside Jensen Huang’s Final Hours as Nvidia CEO | Bloomberg Businessweek -
Jensen Huang's Exit Kicks Off Nvidia Strategy Reset | Bloomberg Businessweek -
Special Episode: Bobby Jain on Why He Chose Millennium Again | Bloomberg Businessweek -
Bloomberg Businessweek Daily Podcast: Jensen’s Nvidia Departure -
Take-Two Releasing Long-Awaited Grand Theft Auto VI Next Week | Bloomberg Businessweek
Bloomberg Businessweek Daily, this episode and its artwork belong to Bloomberg. Octagon is not affiliated with the show; this page is an independent summary.
