Wayfair shares surge 17% after furniture retailer cuts losses by more than $100 million

Wayfair's shares jumped 17% as the company reported a significant reduction in losses, down $107 million from the previous year, after slashing 13% of its workforce. Despite a slight dip in sales to $2.73 billion, the online furniture retailer exceeded Wall Street expectations for both revenue and adjusted loss per share. Active customer numbers also grew, reflecting a positive shift in consumer engagement despite ongoing economic pressures in the home goods sector.